Tuesday, November 23, 2010
He was a Nobel Prize winning economist, an unapologetic believer in Capitalism, was an economic Advisor to President Reagan, and a true Patriot.
This video is 10 minutes long, the first of 5 (1 hour ) of a Phil Donahue episode in 1979, and he absolutely schools Donahue.
Pay special attention to his remarks (at 1:40) regarding the Federal Reserve and how it caused the Great Depression--it's a mirror image of how they're causing the Depression we face today.
HERE's the link to the video-I highly reccomend parts 2-5 as well
"North Korean expert Zhang Liangui told the Sydney Morning Herald that the attack was a deliberate act of brinksmanship to rally the military behind Kim Jong-il's anointed successor, Kim Jong-un.
Zhang, a professor at Beijing's Central Party School, told the Herald that he doesn't believe the attack will escalate tensions, but stressed that North Korea would do what it felt necessary to be recognized internationally as a nuclear state."
Maybe it is, maybe it isn't.
Either way, it's a dangerous game to be playing, especially in light of the revelations over this past weekend that the North has 2,000 completed centrifuges.
If true, this would greatly expedite their nuclear weapons program.
Now there's word that South Korea is jockeying for the US to deploy nukes within their territority, to counter any nuclear threat from the North.
My question is this:
Does the Narcissist in Chief (Obama) have the stones to play these games?
This may well be the beginning of one.
I have read numerous books written by retired Generals, Secretaries of State and the like, and all of them include a scenario where a new regional conflict erupts between the Koreas.
China backs the North, and the US (and others) back the South.
I sincerely hope this is just a skirmish, but I must admit I am doubtful that is the case.
Sunday, November 21, 2010
The Saudis are officially a US 'ally', right??
What other US ally teaches hatred of Christians & Jews to their schoolchildren??
No, what we are doing with this deal is to destabilize the region in favor of a Shia regime overwhelmingly dominated by Israeli-hating old men in their 80's that would like nothing more than to see the downfall of the Jewish state in their remaining lifetimes.
We are arming the Saudis with weapons that could be used against Israel in a future Arab/Israeli conflict.
Saudi Arabia has not joined in any conflict against Israel in the past, likely due to their own military ineffectiveness, but this deal is going to change their military, almost instantly.
Obama is no friend of Israel, and this deal is his way of striking a blow against them, under the auspices of an arms deal to a US "ally".
I'm calling BS on this deal.
Tuesday, November 16, 2010
What sparked the Tea Party?
It wasn't simply the election of Barack Hussein Obama.
Wednesday, November 10, 2010
Forgive me, but I just feel led to discuss hyperinflation and the possibility of food shortages.
I pray every day.
Along with my worship, and thanks for my blessings, I always ask for Him to show me the truth.
I ask for Him to lead me in the ways I should go, to help me see the truth, so that I might prepare myself and my loved ones for whatever troubles lie ahead.
So, whenever I feel led to study things like this, I go with it.
Call it Divine intervention, call it paranoia, call me a nut, religious zealot (which I'm not-I'm a Baptist...)
And no, I absolutely do NOT consider myself to be any sort of Prophet or soothsayer. I'm just a guy who has questions.
However, the truth is the truth, and too many people who are very much more intelligent than I are sounding these alarms.
I think it is a very concise explanation of hyperinflation, and offers examples of some scenarios that could jumpstart it.
Read the post below first, then read this article.
I believe that serious food shortages are headed our way, preceded by food inflation (which is occurring NOW, if you haven't noticed), followed by general economic hyperinflation on a global scale.
I believe we should be.
Should we be prepared?
An absolute necessity.
I, and others, have been sounding the alarm for over a year that food shortages, coupled with hyperinflation, are looming large.
The spectre of inflation loomed over agricultural markets after the US slashed key crop forecasts and warned of shortfalls in grains.
The agriculture department on Tuesday cut estimates of US corn yields for a third successive month, forecast record soyabean exports to China and warned of the slimmest cotton stocks since 1925.
"The combined production shortfalls and dramatic potential stock drawdowns mean a much tighter supply picture than just a few months ago," the agency said in a separate grains report.
Benchmark Chicago corn futures soared above $6 a bushel for the first time since August 2008, before ending lower. Soyabeans rose 4.3 per cent and New York cotton futures posted a record above $1.51 a pound. The price rises have revived fears of a repeat of the global food crisis of 2007-08.
In Europe, milling wheat surpassed a peak reached after Russia banned grain exports in August in response to a devastating drought.
Abdolreza Abbassian, senior grains economist at the UN's Food and Agriculture Organisation in Rome, said the report was "alarming".
"It reiterates the tightening of the overall situation as we go into 2011, which means eventually even those basic food commodities that haven't risen so much could be influenced," he said. The FAO food price index is nearing the highs set in mid-2008.
The price gains will benefit farmers, who the USDA said would earn record amounts for corn this season. But consumers could face pain. Carlsberg, the brewer, on Tuesday warned of price increases as costs swelled for malt and barley. As northern hemisphere farmers contemplate next year's crop plans, surging prices could generate a so-called battle for acreage among different crops.
Dan Basse, president of AgResource, a Chicago crop forecaster, said: "The world cannot afford to lose any more crop production going forward."
Ricardo Leiman, chief executive of Noble, the trading house that is one of the top oilseed processors in China, cited "enormous demand" there because of "stronger economy, stronger habits, very strong feed milling margins and very strong prices domestically".
The USDA said corn yields in the US, the world's largest grower and exporter, would be 154.3 bushels per acre, down 1.5 bushels from an October forecast that was also a sharp downward revision. At 827m bushels, stocks left over from this year's harvest would be the lowest in 15 years. Record US ethanol production has added to demand.
China's surging demand looms large in cotton. The USDA took the rare step of lowering estimates of China's 2010 supply cushion, citing "shortages in mill inventories".
The USDA reduced its cotton demand estimate because of "supplies insufficient to meet demand".
Mike Stevens, a veteran Louisiana cotton broker, said: "The report is the most bullish in our lifetime."
Food price inflation rose at an annual rate of 8 per cent in China in September, according to USDA, whilst food inflation in the US has so far been tame, with the food index rising 1.4 per cent over the past 12 months.
Advisers scrambled to come to grips with the latest report, whose monthly appearance has caused big swings in agricultural markets.
Monday, November 8, 2010
Seriously, any thinking person knew that the Chinese and the Russians would not sit still for this.
They hold hundreds of billions in US Treasury bonds, and we expect them to sit still while we devalue our dollar by printing money?
The first thing I thought of last week when Bernanke made his announcement was "Oh, hell, I know what the damn Chinese are going to do...."
Of course, Bernanke & Obama knew it as well.
This is simply another move on the chessboard of ruination of the US Economy, a game being played out by the Chief Marxist & Co.
U.S. President Barack Obama defended the Federal Reserve's policy of printing dollars on Monday after China and Russia stepped up criticism ahead of this week's Group of 20 meeting.
The G20 summit has been pitched as a chance for leaders of the countries that account for 85 percent of world output to prevent a currency row escalating into a rush to protectionism that could imperil the global recovery.
But there is little sign of consensus.
The summit has been overshadowed by disagreements over the U.S. Federal Reserve's quantitative easing (QE) policy under which it will print money to buy $600 billion of government bonds, a move that could depress the dollar and cause a potentially destabilising flow of money into emerging economies.
"I will say that the Fed's mandate, my mandate, is to grow our economy. And that's not just good for the United States, that's good for the world as a whole," Obama said during a trip to India.
"And the worst thing that could happen to the world economy, not just ours, is if we end up being stuck with no growth or very limited growth," he said.
European Central Bank President Jean-Claude Trichet said all participants at a meeting of the world's central bankers in Basel, Switzerland had insisted they were not pursuing weak currency policies.
"We're attached to avoiding excessive volatility. It's very counterproductive for global growth and global stability," he told a news conference.
CHINA, RUSSIA ATTACK FED MOVE
Washington has frequently criticised China, saying it deliberately undervalues its currency to boost exports.
China says the United States, via the Fed, is engaged in the same thing that it stands accused of, and some emerging nations have already acted to curb their currencies' rise.
Resentment abroad stems from worry that Fed pump-priming will hasten the U.S. dollar's slide and cause their currencies to shoot up in value, setting the stage for asset bubbles and making a future burst of inflation more likely.
"As a major reserve currency issuer, for the United States to launch a second round of quantitative easing at this time, we feel that it did not recognise its responsibility to stabilise global markets and did not think about the impact of excessive liquidity on emerging markets," Chinese Finance Vice Minister Zhu Guangyao said on Monday.
The Fed's quantitative easing policy was unveiled last week to jeers from emerging market powerhouses from Latin America to Asia. Russia renewed its assault on Monday.
"Russia's president will insist .... that such actions are taken with preliminary consultations with other members of the global economy," said Arkady Dvorkovich, a Russian official who is preparing the country's position in Seoul.
Bank of Japan Deputy Governor Hirohide Yamaguchi said on Monday that it too was ready to boost its asset-buying scheme if it saw clear signs of a downturn. Worth 5 trillion yen ($62 billion), it is so far just a tenth the size of the Fed's.
U.S. DROPS KEY DEMAND
India is Obama's first stop in a 10-day trip to Asia that will include Indonesia and Japan.
He will arrive in Seoul for the Nov. 11-12 summit weakened by a crushing congressional election defeat for his Democratic Party and under fire from all sides. Germany described U.S. economic policy as "clueless" last week.
The U.S. has already all but dropped its centrepiece proposal for the G20 -- a measure that would cap current account balances at 4 percent of gross domestic product, something economists said was clearly aimed at China.
At the weekend, U.S. Treasury Secretary Timothy Geithner backed away from the numerical target that had been rejected by China, Germany, Japan and others in a sign that global financial power had slipped from U.S. hands.
On Monday, he was putting on a brave face, saying China was supportive of the G20's framework for rebalancing the global economy, and that he expected broad consensus on it at the summit.
The risk of a negative outcome in Seoul appears to be increasing, or at the very least, an agreement that merely papers over the huge gaps and allows countries to pursue their own economic policies whether it be intervening in currency markets like South Korea and Japan or printing dollars.
"Judging by the critical response of emerging market governments to QE, the likelihood of a ceasefire in the currency war is slim," RBC Capital markets said in a report published on Monday.
I have been in deep thought, considering my next words carefully.
I have consulted with a number of like-minded people, have debated the meanings of the various election results, and have attempted to come to conclusions to lingering questions.
#1- Does this really change anything?
#2- What next for the Movement?
My assessment of question # 1-- things had better change a lot.
If the new Republicans ( and the few "Conservative" Democrats that were re-elected) in both Houses of Congress go to Washington and become "co-opted" by the many Progressive 'RINO's' that were left out of last week's purges, they can expect to be looking for work again in a couple years. Just because the Tea Party supported them doesn't mean a thing if they go to Washington and stray from the beliefs of the people that elected them.
My fervent belief is that the Tea Party types such as myself, and the other true Conservatives that spoke resoundingly on Tuesday last have simply had enough of 'business as usual' in regards to our elected Representatives.
If they didn't understand that before, and especially since the elections, they are beyond hope any will be replaced at the next available opportunity.
There's an old saying-- "Fool me once, shame on you. Fool me twice, shame on me."
Americans have been fooled repeatedly by our Representatives & Senators, even by the Presidents we have elected in good faith, based on campaign rhetoric.
This time around, based on my experiences of the past couple years, I know in my heart that the American public has been awakened in a way not seen in generations.
We are educating ourselves, arming ourselves with the truth, and are basing our decisions on the information that we ourselves are disovering, rather than the shallow promises and half truths of mealy mouthed campaigners.
So yes, I strongly believe a change has come.
And by God, we can change it again in two years if the Congressional Republicans don't back up their words with deeds.
And by the way, in 2012, the other 2/3 of the Senate will be up for re-election, along with the President, and all 435 Members of Congress.
Think the mid-terms were interesting?
You ain't seen nothin' yet.
In answering question #2, I must look ahead to 2012. Rather, I say we need to understand that November 2, 2010 was just this;
an opening salvo.
The real shots heard round the world will take place in November 2012, with the aforementioned enormous turnover of the remaining Senate Progressives, along with their Marxist Hero that currently resides at 1400 Pennsylvania Ave.
To accomplish these things, we have to remain vigilant, remain active, and keep ourselves current on events.
In the short run, if Pelosi is confirmed as Minority Leader, expect some serious 'lame-duck' action in Congress.
In the longer view, expect for the Democrats to attempt a shift towards the middle to try and save as many seats in 2012 as they possibly can.
What President Obama will do is anyone's guess.
My personal belief is that he will remain true to his arrogant self, and try to push his radical agendas. Look for recess appointments, Executive Orders and the like for the next two years.
We have to keep ourselves educated on events, and sound the alarm whenever possible.
The Republic is still in danger, and all True Patriots need to remain vigilant and realize that the outcome of the battle is yet to be decided.