You know all that panic-inducing propaganda Obama was spouting a few weeks back, about how Congress needed to pass a Spendulus Bill immediately, or the economy "may never recover?"
Apparently that catastrophe warning is no longer operative.
Friday, March 13, 2009
Tuesday, March 10, 2009
Flying the friendly skies
While our national debt soars by the trillion, and the Democrats bleat about the spending excesses when Bush was president, I thought it would be nice to offer thanks to the military. Specifically, the 89th Airlift Wing that provides "executive VIP" transport to, among others, members of Congress. The Dow must have been around 10,000 when Nancy Pelosi last flew commercial.
Recent research by Judicial Watch has turned up some official government emails by Pelosi aide Kay King, praising the military for its extraordinary efforts to accommodate Pelosi's busy, self-important schedule. In one, she wrote:
"It is my understanding there are NO G5s available for the House during the Memorial Day recess. This is totally unacceptable ... The Speaker will want to know where the planes are."
The military VIP transport version of the Gulfstream V is known as the C-37, but Ms. King can be forgiven her ignorance. After all, she's not expected to know or care anything about the military, and the civilian version of the aircraft--used by wealthy Democrat campaign contributors--is indeed designated G5.
One may marvel at the audacious hypocrisy of those who berate corporate executives for traveling by private jet when the 89th Airlift Wing has taken delivery of twenty C-37s, at approximately $43 million each. The luxurious aircraft can fly from New York to Tokyo without refueling, while carrying a dozen lucky passengers in comfort. What seemed a shameful extravagance, paid for by the owners of banks and other large corporations, apparently looks prudent when financed on the backs of taxpayers.
Here's an idea, Nan; as long as you and your favorite friends in Congress travel on personal jets that cater to your schedules and whims, don't berate others as spendthrifts for similar travel. As I noted earlier, corporate jets are paid for by the owners of the corporation (Stockholders), who have the right to introduce and vote on rules and amendments to the corporate charters. But if you don't own IBM stock, you're not paying for IBM's jets. Sadly, the same can not be said for Nancy's personal airline.
Recent research by Judicial Watch has turned up some official government emails by Pelosi aide Kay King, praising the military for its extraordinary efforts to accommodate Pelosi's busy, self-important schedule. In one, she wrote:
"It is my understanding there are NO G5s available for the House during the Memorial Day recess. This is totally unacceptable ... The Speaker will want to know where the planes are."
The military VIP transport version of the Gulfstream V is known as the C-37, but Ms. King can be forgiven her ignorance. After all, she's not expected to know or care anything about the military, and the civilian version of the aircraft--used by wealthy Democrat campaign contributors--is indeed designated G5.
One may marvel at the audacious hypocrisy of those who berate corporate executives for traveling by private jet when the 89th Airlift Wing has taken delivery of twenty C-37s, at approximately $43 million each. The luxurious aircraft can fly from New York to Tokyo without refueling, while carrying a dozen lucky passengers in comfort. What seemed a shameful extravagance, paid for by the owners of banks and other large corporations, apparently looks prudent when financed on the backs of taxpayers.
Here's an idea, Nan; as long as you and your favorite friends in Congress travel on personal jets that cater to your schedules and whims, don't berate others as spendthrifts for similar travel. As I noted earlier, corporate jets are paid for by the owners of the corporation (Stockholders), who have the right to introduce and vote on rules and amendments to the corporate charters. But if you don't own IBM stock, you're not paying for IBM's jets. Sadly, the same can not be said for Nancy's personal airline.
Friday, March 6, 2009
Is it still Bush's fault?
Just checking. Now that the Dow has plummeted 25% since Obama took office, pundits are having a harder time ignoring the Obama Effect. As others have pointed out, stock trades are a leading indicator; they represent where investors believe prices will be next week, next month, and next year. So, all in all, not a ringing endorsement of cranking up the Dollar printing presses and putting Nancy Pelosi and Harry Reid in charge of shoveling the cash out the door.
The Treasury Department remains dysfunctional, headed as it is by a man who's apparently clueless about the role of the department. Too, the fact that he can't seem to find deputy secretaries (Except for a Bush administration holdover or two) can't be helping the department's efficiency. It seems that several candidates have recently withdrawn for tax or other "personal" reasons. "Personal reasons," in this context, translates as "I don't want to jump from a lifeboat on to the Titanic's deck, thank you very much."
Mark-to-market rules remain in effect, stifling banks' growth and lending opportunities and increasing the taxpayer's exposure to more failures. The Left's goofy and disastrous "carbon tax" ideas appear to be headed for legislative fruition this year, resulting in a half-trillion dollar tax on the economy just when it could be heading out of the recession. And the usual suspects in Congress want to begin "investigations" into the conduct of former Bush administration officials. Rome is burning, friends, and I hear the sounds of a fiddle emanating from Pennsylvania Avenue in D.C.
The Treasury Department remains dysfunctional, headed as it is by a man who's apparently clueless about the role of the department. Too, the fact that he can't seem to find deputy secretaries (Except for a Bush administration holdover or two) can't be helping the department's efficiency. It seems that several candidates have recently withdrawn for tax or other "personal" reasons. "Personal reasons," in this context, translates as "I don't want to jump from a lifeboat on to the Titanic's deck, thank you very much."
Mark-to-market rules remain in effect, stifling banks' growth and lending opportunities and increasing the taxpayer's exposure to more failures. The Left's goofy and disastrous "carbon tax" ideas appear to be headed for legislative fruition this year, resulting in a half-trillion dollar tax on the economy just when it could be heading out of the recession. And the usual suspects in Congress want to begin "investigations" into the conduct of former Bush administration officials. Rome is burning, friends, and I hear the sounds of a fiddle emanating from Pennsylvania Avenue in D.C.
Tuesday, March 3, 2009
A Babe In The Woods
The New York Times reports that a "secret" letter sent by Obama to Russian figurehead Medvedev offers to trade our nascent missile defense system for promises of cooperation in limiting Iran's ICBM capability. Aside from the rich irony of the NYT still publishing national secrets even when their man is in the White House, this story is quite instructive. Take the reaction of the Russian figurehead:
If the Obama administration showed “common sense” in proposing a “common shield against all types of threats” and reconsidered its plans of a missile defence system which could target Russia, Moscow would be prepared to negotiate, Medvedev said.
So you see? All you have to do is give me all I'm asking--for now--and I'll consider talking to you. Perhaps I can think of more concessions you can make. Won't that be productive?
Our naive, out-of-his-league president is being played like a fiddle.
If the Obama administration showed “common sense” in proposing a “common shield against all types of threats” and reconsidered its plans of a missile defence system which could target Russia, Moscow would be prepared to negotiate, Medvedev said.
So you see? All you have to do is give me all I'm asking--for now--and I'll consider talking to you. Perhaps I can think of more concessions you can make. Won't that be productive?
Our naive, out-of-his-league president is being played like a fiddle.
Friday, February 27, 2009
I hate to say it
No, not really: I told you so. As the ink was drying on Obama's historic signature on the historic $800 billion Spendulus Bill, Congress began work on a $410 billion spending bill to cover, well, everything that wasn't in the Spendulus Bill. That's a lot of kitchen sinks.
If we give the Big 3 a bail-out, the refrain goes, they'll be back soon for more. And, considering our aversion to admitting failure, we'll give them more money, and then more. But did this idea not occur to those telling us to let Obama, Pelosi, and Reid have as much money as they wanted? After all, the Spendulus Bill was designed to spread pork and influence to Democrat constituencies for years to come; it has nothing to do with the actual functioning of the country.
It reminds me of the old repair estimate joke, that says "Well, parts and labor aren't included in that, of course."
If we give the Big 3 a bail-out, the refrain goes, they'll be back soon for more. And, considering our aversion to admitting failure, we'll give them more money, and then more. But did this idea not occur to those telling us to let Obama, Pelosi, and Reid have as much money as they wanted? After all, the Spendulus Bill was designed to spread pork and influence to Democrat constituencies for years to come; it has nothing to do with the actual functioning of the country.
It reminds me of the old repair estimate joke, that says "Well, parts and labor aren't included in that, of course."
Sunday, February 22, 2009
One Step Forward, Two Steps Back
We can now summarize a few pronouncements of the new Democrat majority in Washington.
- A surge of troops into Afghanistan will be forthcoming. Watch for the media to studiously avoid using the term "surge."
- Absent a major public outcry, there will be legislation and regulation proposed to re-introduce, by stealth, the Fairness (Censorship) doctrine. It was unconstitutional before, and as the First Amendment remains in effect, will continue to be unconstitutional.
- After whining that he "inherited" a budget deficit, Obama quickly signed legislation to double that deficit, and continue the larger deficit for years to come. He also claims that he will see the deficit "cut in half" by the end of his term. In other words, he'll bring the deficit back down to the one he "inherited," and it will only take four years and cost three trillion dollars. What a magician!
Sunday, February 15, 2009
Zimbabwe on $65,000,000 Zimbabwe Dollars a day
The London Times reports that Robert Mugabe, ruling thug of Zimbabwe, has used an associate and a shell corporation to buy a $6 million luxury home in Hong Kong. That's a lot of money, but since Zimbabwe under his rule currently boasts an annual inflation rate in the millions of percent, he's used to seeing figures with a lot of zeroes on them.
There's been neglect in Zimbabwe, but also a great deal of vicious political fighting, cronyism, ridiculous spending initiatives, and confiscatory taxes. Then, run the printing presses night and day, and you'll see your currency worth far less than the paper on which it's printed. Nobody would buy the country's sovereign debt, no matter how heavily discounted.
With its sources of borrowing cut off, no real economy, a government firmly entrenched with single-party rule (And glorification and worship of that party's leader), and continued ruinous spending it's no surprise that Zimbabwe's only option has been hyper-inflation. The average citizen lives on about $200 million a year in the local currency, which is approximately $200 U.S. In short, it is the very definition of a failed state, and Mugabe is readying his exit strategy.
With this hyper-partisan, cult of personality thug preparing to bolt after borrowing and inflating his country's economy to ruin, it brings a question to mind. Where will Obama's secret hide away be located?
There's been neglect in Zimbabwe, but also a great deal of vicious political fighting, cronyism, ridiculous spending initiatives, and confiscatory taxes. Then, run the printing presses night and day, and you'll see your currency worth far less than the paper on which it's printed. Nobody would buy the country's sovereign debt, no matter how heavily discounted.
With its sources of borrowing cut off, no real economy, a government firmly entrenched with single-party rule (And glorification and worship of that party's leader), and continued ruinous spending it's no surprise that Zimbabwe's only option has been hyper-inflation. The average citizen lives on about $200 million a year in the local currency, which is approximately $200 U.S. In short, it is the very definition of a failed state, and Mugabe is readying his exit strategy.
With this hyper-partisan, cult of personality thug preparing to bolt after borrowing and inflating his country's economy to ruin, it brings a question to mind. Where will Obama's secret hide away be located?
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