Surprise, surprise – empty suit is still empty

There is a very interesting editorial today in the New York Daily News regarding the rocky first few weeks of Obama’s presidency. Michael Goodwin seems to think it is beyond just having a bad day, and it seems there are quite a few other folks, including Democrats, that are starting to worry about the competency of this administration.

Not long ago, after a string of especially bad days for the Obama administration, a veteran Democratic pol approached me with a pained look on his face and asked, “Do you think they know what they’re doing?”

The question caught me off guard because the man is a well-known Obama supporter. As we talked, I quickly realized his asking suggested his own considerable doubts.

Yes, it’s early, but an eerily familiar feeling is spreading across party lines and seeping into the national conversation. It’s a nagging doubt about the competency of the White House.

I guess the empty suit did not miraculously fill itself on January 20th.

Chi-Comnomics

We have all been reading about who wants who to fail in the news lately.

 I don’t know about you guys, but I feel like a passenger in train that’s about to jump the tracks and, hell no, I don’t want the train wreck to succeed. You’d have to be nuts to want the conductor not to fail in wrecking the train.

 Well, it seems I’m not the only one worried- the “Communist” Chinese are worried that the economic policies of the Obama administration are going to derail the American economic train for good.

“We have lent a huge amount of money to the U.S., so of course we are concerned about the safety of our assets. Frankly speaking, I do have some worries,” Mr. Wen said in response to a question. He did not offer specific suggestions on economic policy to the U.S. government, but called on it to “maintain its credibility, honor its commitments and guarantee the security of Chinese assets.”

You would think that communists would be happy to see America become more like them by increasing the size of government, taking a more active role in “planning” the economy and exerting more control over its citizen’s lives since these steps are ideologically in tune with them. But no:

 They are worried about forever-rising deficits, which may devalue Treasuries by pushing interest rates higher,” said JP Morgan economist Frank Gong. “Inside China there has been a lot of debate about whether they should continue to buy Treasuries.”

 Even the communists know a free market train wreck when they see one.

 And what is it that the Chicoms are doing in order to stimulate their own slumping semi command economy?

The premier promised to focus on job creation and give more help to smaller companies, which he said generate 90 percent of Chinese new employment.

Did you ever think you’d see the day when communists had a better solution to economic problems than the richest free market country? I sure didn’t.

And that’s not all, as the Obama administration goes to war with businesses and the investment class by promising to raise taxes through cap and trade and by raising capital gains taxes, again the communists have a more free market-pro growth solution:

Communist China, the world’s third largest economy and the largest non-democratic one, has a more favorable business tax policy than the United States. It does not have a capital gains tax on the sale of stocks and its corporate taxes are less.

Foreign investors in Chinese currency securities are also exempt from paying a capital gains tax. China has been trying to attract more foreign capital into its domestic stock market. The country also provides “tax holidays” for companies seeking to do business in China.

De madre.

Quote of the day

Dick Armey reminds us how real leaders govern while discussing Rahm Emanuel’s attack on Rush Limbaugh.

“The guy’s president of the United States. You’d say, ‘I bet the guy has some real serious work to do.’ But his chief of staff is what, operating as a political hack? Ronald Reagan did not let the political hacks in the White House. His point was very simple: ‘We’ve got serious work to do. People in this country who are good people have trusted us, and I’m not sitting here listening to a bunch of politics, let’s talk about policies.'”

Read “Dick Armey: Rush Limbaugh is right about Obama,”  here.

Change… it’s what’s for dinner

How about another heapin’ bowl of change for you all?

The man who is President Obama’s newly minted urban czar pocketed thousands of dollars in campaign cash from city developers whose projects he approved or funded with taxpayers’ money, a Daily News probe found.

Bronx Borough President Adolfo Carrion often received contributions just before or after he sponsored money for projects or approved important zoning changes, records show.

Most donations were organized and well-timed.

I don’t know about the rest of you, but I’m starting to grow a little tired of all this change; it just doesn’t taste as good as they said it would.

How much longer do we have left?

It’s Goodnight for Good-Time Charlie

Charlie Crist, in supporting the Porkulus while other GOP governors are refusing to take the money, is showing that he no longer desires the support of conservatives in his party.  I had been pretty happy with Crist’s tenure thus far but now is the time for the real conservatives to really stand-up.  By taking a handout from the federal government (that’s your wallet and mine) he’s simply saying that he doesn’t really mind tax hikes as long as he doesn’t have to take the blame for them.  

Federal money always has strings attached and the pervasive use of it to bribe states into doing certain things erodes our republican form of government.  Imagine if Obama/Pelosi/Reid decide that stimulus money should only go to states that have certain policies.  It’s happened before.  The reason every state has a drinking age of 21 is because it was a requirement to receive federal highway funds.

Viernes Happy Hour

Val beat me to it, as I wanted to be the one to post the Friday funny.  Since we are only hearing bad news, and now we have even former presidents asking the current president to be more optimistic, I figured the time was right for some diversion sana.  I got this in my email this morning and I’m still laughing.  If you had any questions about the infamous stimulus we’ll be getting, here are some answers:

Stimulus Payment Info.

“This year, taxpayers will receive an Economic  Stimulus Payment. This is a
Very exciting new program that I will explain  using the Q and A format:

Q. What is an Economic  Stimulus Payment?
A. It is money that the federal government will  send to taxpayers.

Q. Where will the government get this  money?
A. From taxpayers.

Q. So the government is  giving me back my own money?
A. Only a smidgen.

Q. What  is the purpose of this payment?
A. The plan is that you will use the money to purchase a high-definition TV
Set, thus stimulating the economy.

Q. But isn’t that stimulating the economy of China ?
A. Shut up.

Below is some helpful advice on how to best help the US economy by spending your stimulus check wisely:

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The 31 years of failed Democrat economic policies

Over the last month I’ve had to explain the sub-prime mortgage crisis that led to the collapse of various investment banks and the culminating bailout to a wide variety of family members, friends and acquaintances. As someone who for 18 years was in the belly of the beast that was (and is) the financial services industry, I know a little about the subject. One of the main canards I hear from the preternaturally stupid people on the left is the mantra of “Bush’s eight years of failed economic policies” have led us to where we are today. In addition to being a lie, it is also indicative of the blind, cultish fanaticism that pervades the left. When I attempt to compare the economic realities that existed in 2006, when Dems were voted into a majority in the House and Senate, versus where we are today, none of it filters through. None. There is no reasoning, no talking, no exposition of facts detailed enough to convince these people. It is a seemingly impossible task.

In The American Thinker on October 26, M. Jay Wells wrote what I think is a definitive essay on the real reasons for our financial crisis, going back (as I stated in a post a month ago) with the passage of a little law called the Community Reinvestment Act (CRA). In “Why the Mortgage Crisis Happened,” Wells details the history of the crisis from the tipping point of CRA, and the organizations like Fannie Mae, Freddie Mac, and ACORN, who took full advantage of it, doing their level, mostly unintentional, best in almost destroying our banking system with trillions of dollars of bad loans. Wells writes that “[c]ontrary to the Obama narrative […] it is not free-market capitalism at the root of the current mortgage industry crisis, but rather the very socialism [he] hawks. The historical record makes this fact unmistakably clear.”

The entire article is included below the fold. Read it and keep it close. Facts are stubborn things, Ronald Reagan was fond of saying; they can’t be denied. The sad fact is that the country is witnessing the consequences of failed Socialist policies — and possibly heading further into the abyss with its eyes closed and its mind, such as it is, made up.

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