And The Survey Says……… I Think That You Screwed Up Mr President ………

And The Survey Says……… I Think That You Screwed Up Mr President ………

As an impartial observer on the outside looking in . I can’t help but wonder if Barack Obama as President, had it all to do-over once again . Would he have sought to have surrounded himself with such a bunch of misfits ? His cabinet thus far has been about as useful as piece of fecal matter on the floor of an operating theater in a hospital. I know that when it comes to House and Senate majority leaders there’s little that he can do to the likes of Sen. Harry Reid (D-Utah) or for that matter Rep. Nancy Pelosi (D-Ca). To my mind both of these individuals are self serving and condescending when it comes to addressing the needs of the nation as a whole. That’s not to say that the Republicans themselves are without fault. As they’re as much to blame for this turmoil but they’d rather act oblivious to that very fact. And in terms of them coming up with solutions. Well that’s like asking Paris Hilton to explain the difference between a ‘balance sheet’ and a ‘baking sheet’. She’s as clueless as the Republicans on the matter.

U.S. President Barack Obama speaks during a meeting with members of the Cabinet in the Cabinet Room on September 10, 2009 at the White House in Washington. During the meeting President Obama said he accepts the apology of Congressman Joe Wilson (R-SC) for yelling out "You Lie" during Obama's speech on healthcare reform to a joint session of Congress last night

U.S. President Barack Obama speaks during a meeting with members of the Cabinet in the Cabinet Room on September 10, 2009 at the White House in Washington. During the meeting President Obama said he accepts the apology of Congressman Joe Wilson (R-SC) for yelling out “You Lie” during Obama’s speech on healthcare reform to a joint session of Congress last night . photo appears courtesy of UPI/ Olivier Douliery …….

The President’s cabinet thus far, has proven to me that whilst a great many of them are obviously highly intelligent. When it comes to being forthright and communicative orally , they become tongue tied and about as comprehensible as alien life form that has suddenly landed on planet earth but is unable to communicate with anyone in any particular verbal format. If I’m not the only one of this opinion then I may well have misjudged the situation altogether. But somehow I think not !

The troubling fact now is , as the country gets mired in an economic meltdown that neither the economists or the Presidents own Council of Economic of Advisers have answer for as to when we may begin to start the climb out of the current recession. We have the asinine statements being made by Federal Reserve Chairman Ben Bernanke and that of Treasury Secretary Tim Geithner , all throwing their hat into the ring, as to what they view as a certainty that the tides of change are suddenly beginning to foment and that the economy is about to take a turn for the better. Those are the sort of statements that are speculative in nature and which drive the greed that we tend to see on Wall St. But then again where were the members of ‘Congress’ and the ‘Senate’ , when these charlatans were bringing the economy to its very knees ?

President<strong>  Barack Obama </strong>and Treasury Secretary <strong>Timothy Geithner </strong>, make statements on tax reform, Monday, May 4, 2009, in the Grand Foyer of the White House in Washington.  photo  appears  courtesy  of  <strong> Associated Press </strong> / Ron  Edmonds  ..........
President Barack Obama and Treasury Secretary Timothy Geithner , make statements on tax reform, Monday, May 4, 2009, in the Grand Foyer of the White House in Washington. photo appears courtesy of Associated Press / Ron Edmonds ..........

Courtesy of CBS Moneywatch

Why Geithner Can’t Treasury Bonds

By Eric Schurenberg

Secretary of Treasury Tim Geithner defended the Treasury bond’s AAA rating yesterday on television. But what else could he do? Last Wednesday, credit rating agency Moody’s warned that the T-bond’s rating was in danger of a downgrade, which would be a disaster for Geithner and the Treasury. A downgrade would raise the cost of the nation’s borrowing addiction, potentially hamstring the economic recovery and look really, really bad for Tim. So he did what he could to talk the spectre of a downgrade back into the closet. But it won’t do any good. It’s not his call.

Moody’s was pretty clear about what had to happen to prevent a downgrade:

Unless further measures are taken to reduce the budget deficit further or the economy rebounds more vigorously than expected, the federal financial picture as presented in the projections for the next decade will at some point put pressure on the triple A government bond rating.

In other words, the Treasury bond’s rating is up to Congress, the strength of the recovery, and the analysts at Moody’s and Standard & Poor’s. How likely is it that Congress will get behind meaningful deficit reduction? Four days before Moody’s fired its shot, Douglas Elmendorf of the Congressional Budget Office offered some dismal testimony about how much Congress would have to change. (Thanks to Ed Yardeni of Yardeni Associates for pointing out the testimony):

…. accumulating deficits will push federal debt held by the public to significantly higher levels. At the end of 2009, debt held by the public was $7.5 trillion, or 53 percent of GDP; by the end of 2020, debt is projected to climb to $15 trillion, or 67 percent of GDP

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And though the venerable Sarah Palin and her Tea Pot coterie are trying to sound anew . Haven’t we all heard this same sort of bulls_it once before with J. Ross Perot ? Only in the case of Perot, he wasn’t ‘suckering the masses’ the way Palin is now intent on doing. Her most recent public engagement where she addressed a hall of thousands concerning the present administration. Where as the noted speaker, she had little of interest to say , other than a few mocking anecdotes. What I for one would like to know, were any of those in attendance aware that Palin was in receipt of $100,000 , merely to attend and address those congregated there to hear her speak ? And the masses are to believe that “she” of all people, is intent on seeing change up on Capitol Hill ? If she’s painting herself as an individual of a different mindset from those she’s now intent on criticizing. Then why all this false bravado and the money she’s accepting just to make these asinine and moribund statements, that at present have little or no sense to them at all ? For her it’s not about change but just the same old insipid tactic that all politicians tend to use just to ingratiate themselves amongst the electorate. And those gullible enough, tend to follow her lead rather than looking intensely and listening as to whether or not she’s making sense or has anything at all that insightful to begin with.

But for me at present , my biggest concern are the inane statements that are now being made by Tim Geithner as Treasury Secretary. Either this guy is a habitual liar or he’s plainly someone who happens to be amoral. Anyone who happened to have heard Geithner’s most recent public statement concerning US Treasury bonds ought to know that when those are indeed downgraded , it shows that the ratings’ agencies believes that there’s cause for concern over the government’s handling of the nation’s finances as well as the economy at large. For him to make the claim that there’s nothing at present , is very much akin to the boy who persistently cries wolf when there’s nothing there. But when the wolf just happens to be at his very door he’ll act as if the wolf had been invited in for supper and to devour anything within its sight. This is more or less Geithner’s view not just only on the economy but also on the financial crisis now within our midst.

There seems to be a belief that there’s a neverending abundance of money here that federal government has at its beck and call. In reality nothing could be further from the truth. For inasmuch as the Treasury continues to print money and issue US Treasury Bonds. The inflationary minutiae that’s created , once opened up like can worms is extremely hard to gather up and placed back into the can. And having the Federal Reserve then enact a somewhat draconian fiscal monetary policy tends to exacerbate the matter further , instead of allaying the fears that are already out there.

The fact of the matter is, Tim Geithner is now kidding not only himself but now he’s trying to pull the wool over the eyes of 300 million inhabitants of the nation. I wonder which sock puppet he really is at this juncture ? And who indeed has their fingers up his ass controlling his thought process and speech at present ? Because clearly for a so called intelligent and knowledgeable individual ,something is very awry , askew with his view on the world and that of the US economy at present.

Alan Parkins

Author: tophatal ...........

An avid sports' fans that's all !!!!!

10 thoughts on “And The Survey Says……… I Think That You Screwed Up Mr President ………”

  1. Ah well. It is easy for one to pick on the President and the Congress. However bad they are collectively, worse are the businesses and labor which brought this all onto us.
    Eons ago there was “full employment” in the steel industry, clothing industry…even the bookies and hookers were doing well.
    What occured was that labor wanted more and more, businesses wanted more and more, so prices kept creeping up and up and up. Finally some businesses began to move toward the South…mostly clothing manufacturers in Mass. to the low cost labor and huge tax breaks. But, after a time taxes kicked back in and labor started to skyrocket; the answer? go foreign…really cheap labor 1 dollar a day at best.
    Now I ain’t sayin the idiot politicians and staff and LOBBYISTS and other hangerson don’t have a part of this whole debacle….but it all started with greed and avarice of LABOR and BUSINESSES; MY OLD MAN and I used to argue tooth and nail about unionization…until he retired and saw his top wage of $9.50 was surpassed greatly and he had less and less money to spend from his Social Security and Ironworkers Pension….neverending labor costs and business greed took away his buying power…….

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  2. al clements

    Your thinking is very flawed there , were it not for Congress and their rewriting of so many of the tax laws . Then the big business and the unions en-mass wouldn’t have acted in the way that they’ve done. Just look at the legislation passed by the House Ways & Means Committee over the last twenty years ? What have you been reading in terms of gleaning your knowledge ? From where upon the Senate Finance Committee added ‘their own guffaws’ into the mix. And from there you have the catastrophe that we now find ourselves in.

    But I must say that Palin is not proving herself at all to be a sheep of a different color. Merely someone else who’s looking to ride that gravy train whereby she can line her pockets at others’ expense. As she has done with her latest speech and the event surrounding it . $100,000 fee and at the same time she says….’she wants to promote change’ ? That’s a load of bulls_it for a start and the both of us know it !

    She (Palin) isn’t a champion of anything , merely an individual that’s hopped unto the latest fad that in time will soon wear off. Much as in the same H Ross Perot began to wear on people , after they found out that he had absolutely nothing sensible to say at all !

    Alan Parkins

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    1. Larry

      That’s not about to happen anytime soon as there’s voters’ apathy. How else can you explain the same buffoons being returned to the respective legislative bodies repeatedly ?

      And if you think that the likes of Sarah Palin , are in it for change, then think again. She’s about as much for change as when she saw fit to take $100,000 for her most recent speaking engagement to address the Tea Party coterie gathering. That’s not an indication of change, merely the same sort of bullshit we’ve come to expect to see from the politicians that’s now within our midst.

      For her (Palin) it has merely become about amassing a considerable amount of wealth at the expense of others. !

      Alan Parkins

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    1. aero

      It probably wouldn’t hurt also if you advised them also to seek their college education there in China . I now hear that they have some wonderful top class colleges there in Beijing , Shanghai and and Hong Kong that rank consistently high with the best that the US now has to offer ? Especially in the fields of medicine , engineering and business . And many of the professors teaching the students there, are in fact either from the US or various part of Europe and other parts of the world.

      Somewhat ironic that Fox News doesn’t make it widely known that Palin was paid $100,000 for her appearance and speech at the Tea Party gathering. But yet they’re now foistering her upon us, as a champion of change ? What a load of absolute bullsh_t !

      Alan Parkins

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  3. No flawed thinking….I understand where you come from…had things been left alone by Congress, some demands of Labor and Businesses may not have occured….but the idea that more is better by everyone has always screwed the pooch I feel.
    The point I was trying to make was it is cause and effect……
    Steelworkers get a raise, steel prices go up. Auto manufacturers have to pay more for steel, auto prices go up. Auto workers get a raise…auto prices go up again.
    What I have found most upsetting was the OIL DEPLETION allowance, oil producers were able, still are, to claim loss on the oil they were pumping out and making huge profits on…this was passed by the Congress thru rewriting the Tax law……so I get your point…..now we have no new refinerys since it cuts into profit margin…..everything just spirals….upwards.
    Now Congress wants to spend even more money…problem is there is no REAL MONEY. Hell Obama and all given Fed money to build things, those building get paid this way and then pay taxes on that….robbing Peter to pay Paul….at some point it has got to fail.

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  4. al clements

    Again I point to the House Ways & Means Committee as well as that of the Senate Finance Committee. Other than the House Appropriations Committee. Those two may well be the most powerful in both legislative bodies of the House. Mind you now with the death of John Murtha (D-Pa). I’d like to see where much of the gargantuan and wasteful spending will now come from in terms of a House legislator ?

    I know that he (Murtha) states that all he was doing was bringing much needed monies to his constituents, in order to create jobs and stimulate the infrastructure there. But in the end what has it ultimately done ? Is there really anything tangible to show for it all ?

    He makes wasteful pork spending seem standard and the norm even in the times of urgent need where those monies are needed elsewhere !

    Alan Parkins

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    1. Chris Humpherys

      I don’t want Geithner making my life professionally tougher than it already is . Do you know that every time this a_s open his mouth it makes it extremely harder for me to analyze and business ? It’s bad enough that I have to deal with the major investment banks and their economists throwing their hats into the ring without the likes of Geithner and certain blowholes on MSNBC- yes you Jim Cramer !

      Personally this is how I’d like to now see my news coverage. How is it that neither Katie Couric or Diane Sawyer are prepared to do their early news evening broadcasts like this ?

      Alan Parkins

      Like

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