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Date Sent: 2009-09-10
Freedom's Phoenix Global Edition for Thursday, September 10, 2009 AM edition |
Obama uses iffy math on deficit pledge -- Social Security $6 Billion August Deficit
Spain to proceed with torture prosecution of Bush lawyers -- Fox News appeals ruling for U.S. Fed over bailout -- 61 SC House Republicans Call on Governor to Resign -- A year after financial crisis, the consumer economy is dead -- Female anti-war protesters sue over strip searches -- E-Mail Read by N.S.A. Helped Convict Liquid Bomb Plotters
-- What Happens If The Yuan Replaces The Dollar As The Main Reserve
Currency -- Get ready for Detroit-style labor in our hospitals -- Mice
Levitated in Lab -- SC Congressman Joe Wilson Calls Obama A Liar During Speech --
Deputies harass videographers on 3 occasions in less than 2 weeks -- US
Girl Scouts prepare for terrorists, war, pestilence -- TV network nixes gun manufacturer as sponsor for NASCAR truck team -- Red Flag To Fly Over White House (I smell a deal) - by Chuck Baldwin -- The Government's Effort Has Failed -- Senate to Vote on Anti-gun Kook Sunstein for Regulatory Czar
AZ: Thursday Breakfast with Barbara Blewster on Education
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News Link • Social Security
SSTF Shocker - $6B August Deficit
09-09-2009
•
Bruce Krasting via Economic Policy Journal
The Social Security Trust Fund reported an August net deficit of $5.865 Billion. This is the largest monthly deficit in nineteen years. Base on recent years data it was not surprising the Fund ran a deficit in August. But the magnitude of the shortfall was a surprise to me. This deficit is now the seventh in the past twelve months. That pace has never been seen before.
We deal with very big numbers these days. 100rds of billions and trillions are how we measure things. So a $6b monthly deficit for the Fund would appear to be a ho-hum. That is not correct. This is an important number.
The Actuarial analysis of the Fund is misdirected. Their focus is based on the future value. It should be focused on the here and now. In the June annual report the Trustees concluded that the Fund would be broke in 2037. This conclusion is so far into the future that it is easy for everyone involved to say, “this is a next year problem, health care comes first”. Stephen Goss the Fund’s head honcho s
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News Link • Bush Administration
Spain to proceed with torture prosecution of Bush lawyers
09-09-2009
•
Rawstory
A Spanish judge decided to go ahead with the prosecution of 6 Bush administration lawyers " including former Attorney General Alberto
Gonzales " who were the architects of the legal framework for President
George W. Bush “enhanced interrogation” program, according to a report
in the Spanish newspaper Publico.
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Powell Gammill
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News Link • Healthcare
Obama foes contrived speech controversy to hassle president
09-09-2009
•
Columbia Missourian
That way, the people who protested the Obama speech before they knew
what was in it would have realized there is nothing unusual about a
president appearing at a public school as the classroom year begins.
The previous three Republicans have and there wasn't any stir, aside
from some Democratic nitpicking about White House expenses, proving
that neither party has a monopoly on pettiness. It was routine. As, in
the end, Obama's Tuesday talk was.
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Powell Gammill
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News Link • Federal Reserve
Sleep-At-Night-Money Lost in Lehman Lesson Missing $63 Billion
09-09-2009
•
Bloomberg
It was commercial paper and the $3.6 trillion money market industry that traded the notes that came close to sinking the global economy -- not a breakdown in credit-default swaps or bank-to-bank lending. The bankers were focused on saving themselves, and commercial paper, as invisible as the air they breathed, never came up at the meetings, according to one of the two dozen executives invited to the New York Fed by its president, Timothy F. Geithner, 48, and Paulson.
‘Erosion of Trust’
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News Link • Politics: Republican Campaigns
CA CONgressman resigns after taped sex talk surfaces
09-09-2009
•
Sacramento Bee video
Republican Assemblyman Mike Duvall resigned from office today after
revelations that he described lewd details of two sexual affairs at a
televised committee hearing.
The
resignation came after Assembly Speaker Karen Bass today stripped
Duvall, R-Yorba Linda, of his spot as vice-chair of the Assembly
Utilities and Commerce Committee following reports of a long-term
affair he has carried on with a female utility company lobbyist.
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Powell Gammill
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News Link • Economy - Economics USA
A year after financial crisis, the consumer economy is dead
09-09-2009
•
McClatchy News
Congress and the Obama administration have lost faith in [ahem] self-regulated
markets. Together, they're writing the most sweeping new regulations
over finance since the Great Depression. And in this
ever-more-connected global economy, Washington is working with its
partners through the G-20 group of nations to develop worldwide rules
to govern finance.
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Powell Gammill
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News Link • Police State
E-Mail Read by N.S.A. Helped Convict Liquid Bomb Plotters
09-09-2009
•
NY Times
The e-mail messages were intercepted by the National Security Agency in
Washington in 2006, but were not made available to British prosecutors
to use as evidence in the first trial because the agency did not want
to tip off the militant in Pakistan that his e-mail account was being
monitored.
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Powell Gammill
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News Link • Philosophy: Socialism
Economist: U.S. won't tolerate a 'Lost Decade'
09-09-2009
•
McClatchy News interview
The long-simmering problems that boiled over into a global financial
crisis last September require a strong government hand in the workings
of the U.S. economy and financial system, according to economist and
author James K. Galbraith.
Galbraith, a professor and
scholar at the University of Texas at Austin, is the son of the late
economist John Kenneth Galbraith, whose books in the 1950s influenced
how Americans viewed economics and American capitalism.
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Powell Gammill
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News Link • Federal Reserve
No, the Fed Did Not Stabilize the Economy
09-09-2009
•
CATO
Whether we’re talking about fiscal or monetary fine-tuning, all the technocrats efforts at taming the business cycle in the past 40 years appear no more successful than the pre-Fed policies of doing without a central bank and doing without deferred tax increases (debt-financed “fiscal stimulus” plans).
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News Link • Humor
Warnings For Consumers From The Federal Reserve Board
09-09-2009
•
I've Been Mugged
(Irony?) This blog is all about empowering consumers (whether you have been mugged or not) to protect their money and sensitive personal information. Last week, the Federal Reserve Board (FRB) issued a warning to consumers to be aware of:
"... fraudulent solicitations that appear to be made with the approval or involvement of the Federal Reserve, Federal Reserve officials, or other U.S. government officials. These solicitations promise bogus financial services or large sums of money in exchange for either payment or personal information that can then be used to access a consumer's bank account."
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News Link • Currencies
What Happens If The Yuan Replaces The Dollar As The Main Reserve Currency
09-09-2009
•
NuWire Investment
The chance that the dollar will be replaced by the Chinese yuan seems to be growing, as is China's determination to make it happen. The list of potential implications is very long, and includes several scenarios that are almost apocalyptic.
Let’s consider the Top Five:
Global Gloom Leads to U.S. Doom: The U.S. dollar goes into freefall for the simple reason that if no country has to hold dollars any longer, they won’t. Instead " thanks to the ragged state of the U.S. government’s finances " many countries will dump greenbacks fast as they can, which will only put additional pressure on an already-strained U.S. financial system, which in turn will further damage our economy.
Inflation Inflates: Inflation will strike here with a vengeance, as anything bought, sold or priced in dollars will instantly rise in price to offset this fall.
Repatriation Risk: With the dollar serving as the world’s de facto currency, U.S. companies bear very little exchange rate risk when the time com
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News Link • New World Order
Emilio Estevez 10 Minutes With The Vice President
09-09-2009
•
Celebjihad
There has been a lot of controversy surrounding my brother, Charlie Sheen’s (real name Carlos Estevez) recent article in which he conducts a fictional 20 minute interview with Barack Obama chastising him for not re-investigating 9/11.
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News Link • Police State
Traficant still evokes strong emotion
09-09-2009
•
Boston Globe
“I plan to get right back in it!’’
boomed James Traficant, the former Democratic representative from
Ohio’s 17th district, announcing to 1,200 cheering supporters Sunday he
just might still have a little of the old magic under that memorable
rug.
Just like in his salad
days, Traficant promised that he would take on the federal government
that he said “cheated’’ to put him behind bars for racketeering and
bribery. As the crowd shouted “Run for Senate,’’ he trashed the wars in
Afghanistan and Iraq and caused a frenzy when he proclaimed: “If we can
take care of people all over the world, we can take care of people
here!’’
Calling himself “a
congressman and a convict,’’ Traficant, released Wednesday from prison,
invoked imprisoned Nelson Mandela and said he “knew America better’’
because of his years behind bars.
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Ernest Hancock
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News Link • Healthcare
Read the Union Health-Care Label
Get ready for Detroit-style labor relations in our hospitals.
09-09-2009
•
WSJ
In the heated debates on health-care reform, not enough attention is being paid to the huge financial windfalls ObamaCare will dole out to unions"or to the provisions in the various bills in Congress that will help bring about the forced unionization of the health-care industry.
Tucked away in thousands of pages of complex new rules, regulations and mandates are special privileges and giveaways that could have devastating consequences for the health-care sector and the American economy at large.
The Senate version opens the door to implement forced unionization schemes pursued by former Govs. Rod Blagojevich of Illinois in 2005 and Gray Davis of California in 1999. Both men repaid tremendous political debts to Andy Stern and his Service Employees International Union (SEIU) by reclassifying state-reimbursed in-home health-care (and child-care) contractors as state employees"and forcing them to pay union dues.
Following this playbook, the Senate bill creates a "personal car
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News Link • Criminal Justice System
ACLU pipes up in defense of jailed Richard Hatch
09-09-2009
•
AP
The American Civil Liberties Union wants reality TV star Richard Hatch freed from a jail where he has been held on charges of giving unauthorized interviews.
Hatch was taken into custody after
giving TV interviews that the federal Bureau of Prisons said it had not
approved. He was serving home confinement for failing to pay income
taxes on his $1 million prize for winning the first season of the show.
During the interviews, Hatch said the trial
judge discriminated against him because he was gay. The ACLU says Hatch
has a right to criticize the government.
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Powell Gammill
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News Link • Government
Dear All 535 voting members of the Legislator
9/09/09
•
Desertdezinez
It is now official: You are all morons.
The U.S.Postal Service was established in 1775 " you have had 234 years to get it right; it is broke.
Social Security was established in 1935 " you have had 74 years to get it right; it is broke.
Fannie Mae was established in 1938 " you have had 71 years to get it right; it is broke..
War on Poverty started in 1964 " you have had 45 years to get it right; $1 trillion of our money is confiscated each year and transferred to “the poor”; it hasn’t worked.
Medicare and Medicaid were established in 1965 " you’ve had 44 years to get it right; they’re broke
Freddie Mac was established in 1970 " you have had 39 years to get it right; it is broke
Trillions of dollars in the massive political payoff called the TARP bill of 2009 shows NO sign of working.
And finally to set a new record:....
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Anonymous Watchman
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News Link • Economy - Economics USA
The Inorganic Recovery
09-09-2009
•
Lew Rockwell
There is something affected, something not believable, something agitpropish, about all the cheers for the glorious economic recovery we are supposed to be experiencing. Even some of the recovery's biggest boosters don't quite believe it.
I'm thinking of the reporter on National Public Radio a few days ago who, at the end of a segment, offered a passing warning that the bust did not come to an "organic" end, but rather was artificially stopped by government intervention.
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News Link • WAR: About that War
EDITORIAL: Obama's doves come home to roost
09-09-2009
•
Washington Times
It was an article of faith to Democrats during the latter years of the George W. Bush administration that Afghanistan was the "right war," in contrast to the "wrong war" in Iraq. Taking a vocal stand for Afghanistan enabled them to slam President Bush's unpopular Iraq policy while adopting a fashionably hawkish stand on the war on terrorism. No one likes al Qaeda, and this posture gave then-candidate Barack Obama the chance to say tough-guy things like, "We must make it clear that if Pakistan cannot or will not act, we will take out high-level terrorist targets like bin Laden if we have them in our sights." Because Iraq was the idee fixe of the antiwar crowd, talking about Afghanistan wasn't likely to alienate the doves so long as Iraq was roundly denounced. Anyway, they knew it was just political posturing, right?
What a difference a year makes. Conditions in Iraq have improved dramatically, and security in Afghanistan is deteriorating. An Aug.
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News Link • Obama Administration
SC Congressman Joe Wilson Calls Obama A Liar During Speech (Watch now... deleting)
09-09-2009
•
YouTube
Congressman Joe Wilson Calls Obama A Liar During Speech
South
Carolina Republican Rep. Joe Wilson called Obama out on his lies.
Pelosi, Obama, and Biden's faces were priceless. My old Youtube channel
was DELETED by Youtube last night, please SUBSCRIBE to my new one here!
Fair Use Notice: This video contains some copyrighted material whose
use has not been authorized by the copyright owners. We believe that
this not-for-profit, educational use on the Web constitutes a fair use
of the copyrighted material (as provided for in section 107 of the US
Copyright Law. If you wish to use this copyrighted material for
purposes that go beyond fair use, you must obtain permission from the
copyright owner. Fair Use notwithstanding we will immediately comply
with any copyright owner who wants their material removed or modified,
wants us to link to their web site, or wants us to add their photo.
Disclaimer: The owner and operators of this web site user page do not
engage in ill
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Ernest Hancock
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News Link • Corruption
Maricopa County deputies harass videographers on 3 occasions in less than 2 weeks
09-09-2009
•
Photography Is Not A Crime
On at least three separate occasions over the last two weeks, deputies
in Arizona used intimidation tactics against people filming them;
threatening them with arrest and even seizing one man’s camera before
deleting his video.
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Terry Bressi
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News Link • Campaign for Liberty
Ron Paul Has the Council on Foreign Relations Worried
9/09/09
•
New American
Near the start of this year Ron Paul (R-Texas) introduced H.R. 1207, the Federal Reserve Transparency Act of 2009. The bill was referred to the House Committee on Financial Services. As of this writing, H.R. 1207 has 282 cosponsors.
A Senate equivalent, S.604, the Federal Reserve Sunshine Act of 2009, has been introduced by Bernie Sanders (I-Vt.). It has 23 cosponsors. Both bills have received a tremendous groundswell of grass-roots support. Much of the support is coming from ordinary people who have become aware of the fact that the Federal Reserve has created trillions of dollars literally out of nothing during the past calendar year in its effort to micromanage its way out of the worst economic crisis since the Great Depression....
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Anonymous Watchman
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News Link • Campaign for Liberty
Audit the Fed Will Get Hearing in House Committee!
9/9/09
•
Campaign for Liberty
Thanks to the thousands of Campaign for Liberty members who have tirelessly dedicated themselves to spreading the word, gathering petitions, and putting continuous pressure on Congress by calling, writing, and faxing, Congressman Ron Paul informed C4L today that House Financial Services Committee Chairman Barney Frank has officially agreed to hold hearings on HR 1207! The hearings are tentatively scheduled for Friday, September 25 at 9:00 am.....
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Anonymous Watchman
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News Link • Homeland Security
US Girl Scouts prepare for war, pestilence
089/08/2009
•
yahoo news
The United States wants to enlist its 3.4 million Girl Scouts in the effort to combat hurricanes, pandemics, terror attacks and other disasters.
The Department of Homeland Security (DHS) launched a campaign Tuesday to entice the blue, brown and green-clad multitudes to be even more prepared, with the promise of a new patch if they pitch in.
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Phennommennonn GLP
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Feature Article • Obama Administration
ObamaCare and America's Entitlement Kids
In anticipation of President Obama's speech to a joint session of Congress this evening, the Center for Individual Freedom released a new video entitled "ObamaCare and America's Entitlement Kids," which highlights the fundamental flaws in President Obama's plan to reform health care.
The video points out that U.S. spending obligations for current entitlements, including Medicare and Social Security, is already more than $51 trillion. Broken down by household, that's the equivalent of forcing every American family to bear the costs of raising two additional children.
But instead of fixing the entitlement problem, President Obama's health care plan would add an additional $9 trillion in entitlement obligations. That's like adding one-third of another government child to the two each American household is already forced to support.
Watch the video below.
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News Link • Entertainment: Sports
Benson Faces Sponsor Dilemma; Speed TV Says No To Gun Company
09-09-2009
•
Bleacher Report
Defending NASCAR Camping World Truck Series
champion, Johnny Benson, and his No. 1 Red Horse Racing Toyota Tundra,
began the 2009 season without sponsor.
After getting a two race deal from K&N Filters, Benson's team continued on without sponsorship.
Then Johnny Benson found some sponsorship. It was a gun company. The
name was undisclosed, and Benson and the team submitted it to NASCAR
for approval.
NASCAR came back and told Benson that the sponsor was disapproved.
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Ernest Hancock
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News Link • Entertainment: Sports
TV network nixes gun manufacturer as sponsor for NASCAR truck team
09-09-2009
•
blog.al.com
But the Fox-owned Speed TV, which broadcasts most of the truck races, threw a wrench into those plans by saying it would avoid putting the sponsor on the air, according to a story at MLive.com.
"We have somebody in the works to do it, but TV said they
would avoid us if we had this sponsor, and it's a gun manufacturer,"
Benson said. "We are not sure why that would be the case, but that's
the information they are giving us. We have to choose whether we want
to head down that road or not. We would hate to have good finishes and
run in the top three and have TV avoid us for that reason.
"Originally, I said NASCAR had revoked that, and it wasn't. NASCAR
called me Tuesday after I had said that they had shot it down," Benson
added. "Apparently it is the TV. It is a very interesting scenario. We
have had other (gun) manufacturers in there, and why it is an issue
today, I don't know. I haven't had a conversation with them
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Ernest Hancock
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News Link • 911 / World Trade Center
Twenty Minutes With The President Charlie Sheen - Obama Exclusive
09-09-2009
•
Charlie SHeen
[Riviting ED]I recently had the pleasure of sitting down with our 44th
President of the United States of America, Barack Hussein Obama, while
he was out promoting his health care reform initiative. I requested 30
minutes given the scope and detail of my inquiry; they said I could
have 20. Twenty minutes, 1200 seconds, not a lot of time to question
the President about one of the most important events in our nation’s
history. The following is a transcript of our remarkable discussion.
""""""""""""""""""""""""""""""""""""""""
Charlie Sheen " Good afternoon Mr. President, thank you so much for taking time out of your demanding schedule.
President Barack Obama " My pleasure, the content of your request seemed like something I should carve out a few minutes for.
CS
" I should point out that I voted for you, as your promises of hope and
change, transparency and accountability, as well as putting government
back into the hands of the America
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Thomas Costanzo
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News Link • Obama Administration
Red Flag To Fly Over White House (I smell a deal)
09-09-2009
•
Chuck Baldwin
Lest anyone doubt the communist leanings of President Barack Obama, look no
further than to his decision to hoist the Red Chinese flag (for the first
time in history) over the South Lawn of the White House in Washington, D.C.,
on Sunday, September 20.
According to China Daily, "Chinese associations in the United States had
applied to hold a ceremony in front of the US President's residence to
celebrate the 60th anniversary of the founding of PRC [People's Republic of
China] . . .
"More than 1,000 people will attend the ceremony and the performances held
after it, according to Zhao Luqun, who will direct the performances.
"Zhao said the performances will demonstrate the friendship, magnanimous
spirit and kindness of modern Chinese people."
Trying to find words to describe the extreme offensiveness of flying the
Communist Chinese flag over the White House challenges my vocabulary. Words
such as UNBELIEVABL
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Ernest Hancock
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News Link • Government
The Government's Effort Has Failed
09-09-2009
•
The Market Ticker
The Federal Reserve's latest (through July) G19 update is out, showing consumer credit.
To say that these figures are ugly would be an understatement. In fact, there is simply no way you can spin this - while this contraction in credit has to happen it has horrifying implications if our Washington policymakers don't get on the stick and deal with the underlying issues here and now instead of pretending that everything is ok or worse, try to "borrow our way to prosperity."Hiring isn't coming back any time soon either:
SAN FRANCISCO (MarketWatch) -- Employers' hiring plans for the upcoming fourth quarter dropped to their lowest level in the history of Manpower's Employment Outlook Survey, which started in 1962.
That needs no further explanation.
President Obama is trying to kick the can again:
The Senate must move legislation to raise the federal debt limit beyond $12.1 trillion by mid-October, a move viewed as necessary despite protests abou
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News Link • Corruption
Goldman CEO as Hypocritical, Commie, Oligarch
09-09-2009
•
Economic Policy Journal
Lloyd Blankfein, chief executive of Goldman Sachs, has attacked some investment banking products as socially useless and said that the controversy over bankers’ pay was both understandable and appropriate, in a speech to the Handelsblatt banking conference in Frankfurt.
He did not comment on the "social" usefulness of his new townhouse with its 12 car garage.
Blankfein said that multi-year bonuses should be outlawed and senior staff should receive large proportions of pay in stock, rather than cash. Top executives should be forced to hold the bulk of that stock until retirement, he said.
He did no comment on the degree to which he and Henry Paulson have already cashed out of stock. He did not mention the self-serving nature of his comments on multi-year bonuses given that Goldman has spurned multi-year bonus guarantees at a time when rivals have been hiring aggressively using such promises.
Blankfein also supported the call for global regulatory reform , but did n
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News Link • Economy - Economics USA
Smith & Wesson Holding Corporation Reports First Quarter Fiscal 2010 Financial Results
09-09-2009
•
PR News Release
SPRINGFIELD, Mass., Sept. 9 /PRNewswire-FirstCall/ -- Smith & Wesson Holding Corporation (Nasdaq: SWHC), parent company of Smith & Wesson Corp., the legendary 157-year old company in the global business of safety, security, protection and sport, today announced financial results for the first fiscal quarter ended July 31, 2009.
Net sales for the first fiscal quarter ended July 31, 2009 were $102.2 million, which was $23.8 million, or 30.3%, higher than net sales of $78.5 million for the first fiscal quarter last year. Gross profit of $35.6 million, or 34.8% of sales, for the first quarter of fiscal 2010 increased by 43.4% compared with gross profit of $24.8 million, or 31.7% of sales, for the first quarter last year. Net income for the first quarter of fiscal 2010 was $12.6 million, or $0.21 per diluted share, compared with $2.3 million, or $0.05 per diluted share, for the first quarter of fiscal 2009. Net income included a non-cash, fair-value adjustment to the contingent considera
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News Link • Gun Rights
Senate to Vote on Anti-gun Kook Sunstein for Regulatory Czar
09-09-2009
•
AmmoLand Shooting Sports News
Just when you thought the news about the Obama administration couldn’t get any worse, gun owners find themselves needing to rally the troops once again.
This time it’s the proposed “Regulatory Czar” who will be coming to a vote this week in the U.S. Senate.
His name is Cass Sunstein, and he holds some of the kookiest views you will ever hear....
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Fredy Riehl
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