Many recent articles have come out regarding the results of, former global warming skeptic, Richard Muller, a physicist at the University of California, Berkeley and his about face on denying global warming.
Actually, that is not quite accurate. Richard Muller merely stated before that issues that climate science skeptics raise have some merit and should be investigated further rather than being ignored.
In "his" (Muller's) latest study, he "confirms" data that indicates "global warming" however, he says nothing as to whether that "warming" is man-made or natural warming. Therein lies the center of the debate, if natural causes changed climate, as we all understand climate is dynamic and has cycles and changes, for five BILLION years (sun, clouds, water vapor, volcanoes, etc) the question is can it be true that man-made emissions of Co2's has overwhelmed the influence of the sun, clouds, water vapor, etc. to now be the MAIN driver of climate and raise temperatures globally- consistently?
Of course not, NOAA data clearly shows that there is NO GLOBAL warming, but that there is a consistent slight increase in temperatures in many parts of the earth but at the same time, about 1/3rd of the earth has cooled and remains in a cooling trend, therefore it is inappropriate to use the term "global" warming, but rather should be corrected in stating- "regional warming."
Bottom line, Richard Mueller did not confirm that man-made Co2's are the cause of "regional" [so-called global warming] but rather that the data sets he examined matched observed temperatures.
Richard Muller, a respected physicist at the University of California, Berkeley, used to dismiss alarmist climate
Monday, October 24, 2011
Sunday, April 19, 2009
They Have Us by the Gonads ?
LNR believes that the so-called and unqualified self-declaring economists in the media have it just the OPPOSITE. It's the USA that has a certain large Asian country by the "gonads" as it were.
The mainstream media wishes to extoll the vulnerability and control that the big Asian country has with its ownership of approximately ONE trillion of US debt- in T-bills. LNR has already explained the various reasons why that particular Asian country would NOT exercise its power to "dump" those T-bills- mainly because it would devalue the very debt they are trying to recover- dumping T-bills on that scale would turn the value of their debt to near zero. But, aside from the economic reality- that dumping that debt would hurt the Asian country more than America, the huge element of this "economic" theoretical debate is how easily America could retaliate. The economic counter-weapon that America has is MUCH more relevant to that Asian country than T-bills are to America. America's first counter-attack would be to slap a 300% tariff on the goods of that Asian country. America purchases over 372 billion USD of that Asian countries goods, which represents a whopping 9% of that Asian country's GNP and 20% of all its exports. Whereas, the one trillion of T-bills they hold of America represents only about 6.8% of America's GNP. Who has who by the gonads ? Let's also recognize the value of each of these potential financial weapons- the T-bills, this is not an insurmountable problem- with raising of rates there would be plenty of other foreign and domestic buyers. Also recognize that the 1 trillion in debt holdings has taken years to accumulate, whereas halting purchases of that Asian country's goods is valued on a "yearly" basis. This means that the loss of American purchases from that Asian country (imports) would amount to several trillion dollars lost to the big Asian country over just a few years- NOT an insurmountable problem- it would cause utter financial chaos- with tens of millions more unemployed and THE major loss of their foreign currency earnings.
The T-bill debt held by that Asian country is NOT a linchpin in the America economy- why ? Because the amount is small and the most important fact- it's denominated in the US dollar !! We can print all the legal tender we need in an emergency such as we face right now, it's simply absurd to think of the T-bill debt held by that Asian country is given such attention, when you have over 9.8 trillion dollars in stocks of money and quasi money, another 2 trillion under tarp, 19 trillion in domestic credit and 20 trillion in the US stock markets - aside from savings, retirements, home equities, etc, etc, that right there is over 51 trillion dollars available. How does the media continue to make a mere 1 trillion in t-bills owed to that large Asian country such a CONTROLLING threat to the American economy. .... its not a threat. ... it's just another old story being rehashed by incompetent journalists impersonating economists.
The T-bills held by the large Asian country is simply American money come home. These stories of foreigners holding American dollars or debt is not new. If you recall during the 1970's it was the threat that Saudi Arabia and other "Arab" nations had against America with all the petro-dollars gained by huge oil imports by America- in turn- ofcourse, paying for those oil purchases with American dollars. Where did those Arab countries put their money before they began massive infrastructure development projects at home? America- those petro-dollars came back to America in the form of investments and real estate purchases. At the time, the media was all ablaze at the "threat" of all those dollars being spent "buying up" America. That America would have to realign itself against Israel and in favor of the Arab nations because of the so-called "strangle-hold" the Arab nations had with its petro-dollars. .... of course- it never came to pass, because then- as now, the amount was actually not significant to the overall American economy and stock of money and credit and it could not be used as a weapon without hurting the aggressor more than the intended victim.
The second wave came with the Japanese as you may recall. As America imported much more than it exported to Japan, the Japanese also built up a huge amount of American dollars it held as reserves and turned to invest in America. If one is old enough to remember, the media - Time magazine, etc, was inundated with Japan as the NEW Rising Sun, soon to eclipse America- America's time was passed, Japanese money was buying up Rockefeller Center in New York, soon Japan would OWN America !
... it never came to pass. Even in those heady days of the 1980's Japan was never more than 3rd on the list of the biggest investors in America, behind Britain and Holland. It was a myth that America was going to be bought up, or controlled by Japanese money. And again, that money was NOT Japanese, it was "trade surplus" American dollars which were making its way back to America.
Now, the third wave- the same old story being hashed up about the t-bill debt held by that certain Asian country. If you look at the analysis, it seems all the great world economic powers know where to invest when they become rich- IN AMERICA ! The T-bill debt represents a vote of confidence in the American economy- it shows that when you hold a surplus of America dollars- where should you invest it ? Of course, as always, back into the American economy. And, those t-bills represent "AMERICAN" money coming home, NOT money produced by some other economy or country.
The mainstream media wishes to extoll the vulnerability and control that the big Asian country has with its ownership of approximately ONE trillion of US debt- in T-bills. LNR has already explained the various reasons why that particular Asian country would NOT exercise its power to "dump" those T-bills- mainly because it would devalue the very debt they are trying to recover- dumping T-bills on that scale would turn the value of their debt to near zero. But, aside from the economic reality- that dumping that debt would hurt the Asian country more than America, the huge element of this "economic" theoretical debate is how easily America could retaliate. The economic counter-weapon that America has is MUCH more relevant to that Asian country than T-bills are to America. America's first counter-attack would be to slap a 300% tariff on the goods of that Asian country. America purchases over 372 billion USD of that Asian countries goods, which represents a whopping 9% of that Asian country's GNP and 20% of all its exports. Whereas, the one trillion of T-bills they hold of America represents only about 6.8% of America's GNP. Who has who by the gonads ? Let's also recognize the value of each of these potential financial weapons- the T-bills, this is not an insurmountable problem- with raising of rates there would be plenty of other foreign and domestic buyers. Also recognize that the 1 trillion in debt holdings has taken years to accumulate, whereas halting purchases of that Asian country's goods is valued on a "yearly" basis. This means that the loss of American purchases from that Asian country (imports) would amount to several trillion dollars lost to the big Asian country over just a few years- NOT an insurmountable problem- it would cause utter financial chaos- with tens of millions more unemployed and THE major loss of their foreign currency earnings.
The T-bill debt held by that Asian country is NOT a linchpin in the America economy- why ? Because the amount is small and the most important fact- it's denominated in the US dollar !! We can print all the legal tender we need in an emergency such as we face right now, it's simply absurd to think of the T-bill debt held by that Asian country is given such attention, when you have over 9.8 trillion dollars in stocks of money and quasi money, another 2 trillion under tarp, 19 trillion in domestic credit and 20 trillion in the US stock markets - aside from savings, retirements, home equities, etc, etc, that right there is over 51 trillion dollars available. How does the media continue to make a mere 1 trillion in t-bills owed to that large Asian country such a CONTROLLING threat to the American economy. .... its not a threat. ... it's just another old story being rehashed by incompetent journalists impersonating economists.
The T-bills held by the large Asian country is simply American money come home. These stories of foreigners holding American dollars or debt is not new. If you recall during the 1970's it was the threat that Saudi Arabia and other "Arab" nations had against America with all the petro-dollars gained by huge oil imports by America- in turn- ofcourse, paying for those oil purchases with American dollars. Where did those Arab countries put their money before they began massive infrastructure development projects at home? America- those petro-dollars came back to America in the form of investments and real estate purchases. At the time, the media was all ablaze at the "threat" of all those dollars being spent "buying up" America. That America would have to realign itself against Israel and in favor of the Arab nations because of the so-called "strangle-hold" the Arab nations had with its petro-dollars. .... of course- it never came to pass, because then- as now, the amount was actually not significant to the overall American economy and stock of money and credit and it could not be used as a weapon without hurting the aggressor more than the intended victim.
The second wave came with the Japanese as you may recall. As America imported much more than it exported to Japan, the Japanese also built up a huge amount of American dollars it held as reserves and turned to invest in America. If one is old enough to remember, the media - Time magazine, etc, was inundated with Japan as the NEW Rising Sun, soon to eclipse America- America's time was passed, Japanese money was buying up Rockefeller Center in New York, soon Japan would OWN America !
... it never came to pass. Even in those heady days of the 1980's Japan was never more than 3rd on the list of the biggest investors in America, behind Britain and Holland. It was a myth that America was going to be bought up, or controlled by Japanese money. And again, that money was NOT Japanese, it was "trade surplus" American dollars which were making its way back to America.
Now, the third wave- the same old story being hashed up about the t-bill debt held by that certain Asian country. If you look at the analysis, it seems all the great world economic powers know where to invest when they become rich- IN AMERICA ! The T-bill debt represents a vote of confidence in the American economy- it shows that when you hold a surplus of America dollars- where should you invest it ? Of course, as always, back into the American economy. And, those t-bills represent "AMERICAN" money coming home, NOT money produced by some other economy or country.
Tuesday, April 14, 2009
Climate Change Disaster !
Please write to LNR to explain, what exactly is the big disaster with a "slightly' warmer climate and some rising sea levels ? What is the huge danger that the pseudo-scientists are screaming about (the louder they scream the more funding they get right) ? Please submit a list of the "catastrophe" the earth is facing with a warmer climate of which the earth has experienced many times before without disaster ? Of course, that is if the weather people are actually even correct in their computer modeled extrapolation theories that are to take effect 100 years from now- despite their inability to tell me what the weather is going to be like next month.
UN Steals Money from America
Remember LNR's story a short while ago, saying that UN Secretary General Ban Ki Moon was wrong in calling America a "deadbeat" for not paying UN dues. Check out today's story picked up by the Drudge report which substantiates what LNR was saying, the U.S. is delaying payments to the UN until audits and other investigations reveal WHERE the UN is spending American tax dollars. This latest investigation confirms the widespread abuse of American taxpay money by corrupt UN officials. LNR's author had worked for the UN for over 12 years and can attest to the top to bottom corruption. In fact, LNR's author made two separate official exposures of UN corruption in the UN's Criminal Tribunal for the Former Yugoslavia. The response of the first was- silence from the UN's Oversight Committee in Vienna, and the second complaint resulted in the UN offering a "big" promotion within the UN's system in return for LNR's author "dropping" the second exposure. (this case is still pending)
Report: U.N. spent U.S. funds on shoddy projects
Updated 1d 5h ago | Comments 529 | Recommend 24 E-mail | Save | Print | Reprints & Permissions |
Yahoo! Buzz Digg Newsvine Reddit FacebookWhat's this?By Ken Dilanian, USA TODAY
WASHINGTON — Two United Nations agencies spent millions in U.S. money on substandard Afghanistan construction projects, including a central bank without electricity and a bridge at risk of "life threatening" collapse, according to an investigation by U.S. federal agents.
The U.N. ran a "quick impact" infrastructure program from 2003 to 2006 under a $25 million grant from the U.S. Agency for International Development. The U.N. delivered shoddy work, diverted money to other countries and then stonewalled U.S. efforts to figure out what happened, according to a report by USAID's inspector general obtained by USA TODAY under the Freedom of Information Act.
REPORT: Read full investigation
"Due to the refusal of the United Nations to cooperate with this investigation, questions remain unanswered," the report says.
Federal prosecutors in New York City were forced to drop criminal and civil cases because the U.N. officials have immunity, according to the report. USAID has scaled back its dealings with the U.N. and hired a collection agency to seek $7.6 million back, Deputy Administrator James Bever said. The aid agency hasn't heeded its inspector general's request to sever all ties.
"There are certain cases where working with the U.N. is the only option available," Bever said in an e-mail.
The quick-impact program was designed to demonstrate results and promote confidence in the reconstruction effort, but the report suggests it did the opposite.
One U.N. employee told investigators that "about $10 million of USAID grant money went to projects in other countries, to include Sudan, Haiti, Sri Lanka and Dubai." That witness said the Afghanistan country director for the U.N. Office for Project Services (UNOPS), which served as the contractor on the project for the U.N. Development Program (UNDP), spent about $200,000 in U.S. money to renovate his guesthouse. Witness names were withheld by USAID.
The development program hired UNOPS to do the work and kept a 7% management fee, the report says. The finances were "out of control," an unnamed project services manager told investigators.
An unnamed USAID contractor told investigators that the program was "ill conceived from the beginning. This was a political idea to do quick impact projects that would look good," the report said.
Investigators found that projects reported as "complete" were actually so shoddily built that they were unusable, the report said. For example:
•A bridge near Kandahar cost $250,000, had to be overhauled by other contractors and still was not safe. The U.N. claimed the bridge was damaged by flood, but a colonel in the U.S. Army Corps of Engineers told investigators that "falls between absolute incompetence and a lie; the project was improperly constructed."
•An airstrip in the southern town of Qalat, originally budgeted at $300,000, cost $749,000 and could not accommodate military planes.
•A $375,000 headquarters for Afghanistan's central bank lacked electricity or plumbing, and basement flooding destroyed stacks of local currency.
Investigators found that UNDP withdrew $6.7 million from a U.S. line of credit without permission in 2007, months after the project had ended. UNDP has yet to explain what happened to that money, the report says.
"This is a disturbing report and an egregious example of the kind of fraud and waste that needs to be fixed," said Mark Kornblau, a spokesman for Susan Rice, the U.S. ambassador to the U.N. "The U.S. is committed to making the U.N. more accountable."
Vitaly Vanshelboim, UNOPS deputy executive director, did not dispute that some of his agency's work was substandard and that money was improperly diverted. He said UNOPS had overhauled itself dramatically since then. An internal U.N. investigation found serious irregularities by one former official that have since been addressed through management reforms, he said.
UNDP spokesman Stéphane Dujarric called the report "disturbing." Both officials denied that their agencies failed to cooperate with investigators.
"We are continuing to work closely with USAID to get to the bottom of all of the issues they have raised," he said in an e-mail.
USAID's inspector general, Donald Gambatesa told the Commission on Wartime Contracting during a February public hearing that he was "concerned" that his agency was continuing to do business with the U.N.
Commissioner Dov Zakheim, a former Pentagon controller, asked Gambatesa whether the agencies have immunity "if they siphon (their U.S. grants) all off into Swiss banks? Is that accurate? They will be totally immune, no matter what they do with the money?"
"My understanding is, yes," Gambatesa replied.
On Monday, Alonzo Fulgham, USAID's acting administrator, met in in New York to discuss the matter with Ad Melkert, the development program's acting administrator, USAID said in a statement.
"Mr. Melkert pledged UNDP's full cooperation with USAID in reforming UNDP's project management practices, improving financial accountability and in recovering any missing funds," the statement said.
Report: U.N. spent U.S. funds on shoddy projects
Updated 1d 5h ago | Comments 529 | Recommend 24 E-mail | Save | Print | Reprints & Permissions |
Yahoo! Buzz Digg Newsvine Reddit FacebookWhat's this?By Ken Dilanian, USA TODAY
WASHINGTON — Two United Nations agencies spent millions in U.S. money on substandard Afghanistan construction projects, including a central bank without electricity and a bridge at risk of "life threatening" collapse, according to an investigation by U.S. federal agents.
The U.N. ran a "quick impact" infrastructure program from 2003 to 2006 under a $25 million grant from the U.S. Agency for International Development. The U.N. delivered shoddy work, diverted money to other countries and then stonewalled U.S. efforts to figure out what happened, according to a report by USAID's inspector general obtained by USA TODAY under the Freedom of Information Act.
REPORT: Read full investigation
"Due to the refusal of the United Nations to cooperate with this investigation, questions remain unanswered," the report says.
Federal prosecutors in New York City were forced to drop criminal and civil cases because the U.N. officials have immunity, according to the report. USAID has scaled back its dealings with the U.N. and hired a collection agency to seek $7.6 million back, Deputy Administrator James Bever said. The aid agency hasn't heeded its inspector general's request to sever all ties.
"There are certain cases where working with the U.N. is the only option available," Bever said in an e-mail.
The quick-impact program was designed to demonstrate results and promote confidence in the reconstruction effort, but the report suggests it did the opposite.
One U.N. employee told investigators that "about $10 million of USAID grant money went to projects in other countries, to include Sudan, Haiti, Sri Lanka and Dubai." That witness said the Afghanistan country director for the U.N. Office for Project Services (UNOPS), which served as the contractor on the project for the U.N. Development Program (UNDP), spent about $200,000 in U.S. money to renovate his guesthouse. Witness names were withheld by USAID.
The development program hired UNOPS to do the work and kept a 7% management fee, the report says. The finances were "out of control," an unnamed project services manager told investigators.
An unnamed USAID contractor told investigators that the program was "ill conceived from the beginning. This was a political idea to do quick impact projects that would look good," the report said.
Investigators found that projects reported as "complete" were actually so shoddily built that they were unusable, the report said. For example:
•A bridge near Kandahar cost $250,000, had to be overhauled by other contractors and still was not safe. The U.N. claimed the bridge was damaged by flood, but a colonel in the U.S. Army Corps of Engineers told investigators that "falls between absolute incompetence and a lie; the project was improperly constructed."
•An airstrip in the southern town of Qalat, originally budgeted at $300,000, cost $749,000 and could not accommodate military planes.
•A $375,000 headquarters for Afghanistan's central bank lacked electricity or plumbing, and basement flooding destroyed stacks of local currency.
Investigators found that UNDP withdrew $6.7 million from a U.S. line of credit without permission in 2007, months after the project had ended. UNDP has yet to explain what happened to that money, the report says.
"This is a disturbing report and an egregious example of the kind of fraud and waste that needs to be fixed," said Mark Kornblau, a spokesman for Susan Rice, the U.S. ambassador to the U.N. "The U.S. is committed to making the U.N. more accountable."
Vitaly Vanshelboim, UNOPS deputy executive director, did not dispute that some of his agency's work was substandard and that money was improperly diverted. He said UNOPS had overhauled itself dramatically since then. An internal U.N. investigation found serious irregularities by one former official that have since been addressed through management reforms, he said.
UNDP spokesman Stéphane Dujarric called the report "disturbing." Both officials denied that their agencies failed to cooperate with investigators.
"We are continuing to work closely with USAID to get to the bottom of all of the issues they have raised," he said in an e-mail.
USAID's inspector general, Donald Gambatesa told the Commission on Wartime Contracting during a February public hearing that he was "concerned" that his agency was continuing to do business with the U.N.
Commissioner Dov Zakheim, a former Pentagon controller, asked Gambatesa whether the agencies have immunity "if they siphon (their U.S. grants) all off into Swiss banks? Is that accurate? They will be totally immune, no matter what they do with the money?"
"My understanding is, yes," Gambatesa replied.
On Monday, Alonzo Fulgham, USAID's acting administrator, met in in New York to discuss the matter with Ad Melkert, the development program's acting administrator, USAID said in a statement.
"Mr. Melkert pledged UNDP's full cooperation with USAID in reforming UNDP's project management practices, improving financial accountability and in recovering any missing funds," the statement said.
Tuesday, April 7, 2009
Where are the JOBS?
LNR stated many months ago, when the financial "Tsunami" (you heard that term here first) hit America, that "jobs" was as important and required in parallel to keeping banks liquid. The banks have been indeed kept liquid (albeit at the common taxpayer's expense) and have kept many bankers happy that Uncle Sam has bailed them out. However, the common man has been let down- the jobs, the millions of jobs promised (and LNR has recommended that 4-5 million jobs need to be created) have not materialized. The recession will continue and NOT bottom out until millions of new jobs are created.
Sunday, April 5, 2009
North Korea Defies the World and Obama....
Neville Chamberlain
does nothing...
except, appease the aggressor. What Obama needs to learn is that "sometimes" you do need an IRON FIST. As the author of LNR learned first hand in being in no less than 3 wars (Croatia, Bosnia and Kosovo) the dominant aggressors were bullie- as North Korea, and when those bullies, the Serbs, were challenged, they fell like a house of JELLO. (total Serb defeat in Croatia, Bosnia and Kosovo). Now we make the same mistake with North Korea. Instead, the use of massive artillery suppression fire, along with a massive airstrike would crumble that regime just as easy as the Serbs crumbled at the first signs of NATO attacks.
Thursday, April 2, 2009
NATO Alliance NOT at Risk in Afghanistan
LNR comments on the following story:
As Afghanistan goes, so goes NATO. Interviews across the U.S foreign policy establishment reveal a unified belief that the authority of the transatlantic alliance will be won or lost in the Afghan war.There is an emerging U.S. consensus that if Europe does not reverse itself and significantly reinvest in the war effort, the transatlantic military treaty will cease to matter. (absolutely ridiculous- LNR)
NATO's credibility is on the line," (not at all- LNR) said Sandy Berger, who served as national security advisor during the Clinton administration. "NATO needs to succeed in Afghanistan," Berger added in an interview. "If it doesn't, it really does undermine the vitality of the alliance."
Or as John Bolton put it, "Ironically, the risk here is that Afghanistan looked like the future of NATO. It could become its graveyard."
The weakness in America’s foreign policy establishment is sickening. LNR completely disagrees with Berger and Bolton’s comments. Why ? It is because Afghanistan is NOT the litmus test for the durability of the NATO alliance for two main reasons: first, these pundits and others fail to recognize or mention that Afghanistan is a special case for NATO because it is an “out-of-area” operation. This in principle remains within the mandate of the NATO charter, however, NATO ‘s main purpose was NOT to engage in “out-of-area” operations, but rather a military bulwark against the Soviet threat. NATO was to maintain European-Atlantic stability through deterrence via massive combined conventional forces.
The second reason the pundits are completely wrong is because NATO’s main operating order of battle is NOT strategic or unconventional. In other words, NATO was not designed for use of nuclear weapons (except perhaps battlefield tactical nukes) nor unconventional “special forces” type warfare- as we have in Afghanistan. So, NATO’s actions in Afghanistan is operating on the periphery of NATO’s charter and raison d’ etre. This is why Afghanistan is hardly about NATO’s credibility, the operations there is NOT a case of “clear and imminent danger” to the broad security of NATO countries, i.e. invasion, occupation, total destruction- as it was meant to protect from.
As Afghanistan goes, so goes NATO. Interviews across the U.S foreign policy establishment reveal a unified belief that the authority of the transatlantic alliance will be won or lost in the Afghan war.There is an emerging U.S. consensus that if Europe does not reverse itself and significantly reinvest in the war effort, the transatlantic military treaty will cease to matter. (absolutely ridiculous- LNR)
NATO's credibility is on the line," (not at all- LNR) said Sandy Berger, who served as national security advisor during the Clinton administration. "NATO needs to succeed in Afghanistan," Berger added in an interview. "If it doesn't, it really does undermine the vitality of the alliance."
Or as John Bolton put it, "Ironically, the risk here is that Afghanistan looked like the future of NATO. It could become its graveyard."
The weakness in America’s foreign policy establishment is sickening. LNR completely disagrees with Berger and Bolton’s comments. Why ? It is because Afghanistan is NOT the litmus test for the durability of the NATO alliance for two main reasons: first, these pundits and others fail to recognize or mention that Afghanistan is a special case for NATO because it is an “out-of-area” operation. This in principle remains within the mandate of the NATO charter, however, NATO ‘s main purpose was NOT to engage in “out-of-area” operations, but rather a military bulwark against the Soviet threat. NATO was to maintain European-Atlantic stability through deterrence via massive combined conventional forces.
The second reason the pundits are completely wrong is because NATO’s main operating order of battle is NOT strategic or unconventional. In other words, NATO was not designed for use of nuclear weapons (except perhaps battlefield tactical nukes) nor unconventional “special forces” type warfare- as we have in Afghanistan. So, NATO’s actions in Afghanistan is operating on the periphery of NATO’s charter and raison d’ etre. This is why Afghanistan is hardly about NATO’s credibility, the operations there is NOT a case of “clear and imminent danger” to the broad security of NATO countries, i.e. invasion, occupation, total destruction- as it was meant to protect from.
New World Reserve Currency- yeah right
Could you believe the world staking their financial underpinnings by a country run by the Mafia and ex-KGB agents ? Supporting your economy with a currency run by Chavez in Venezuela ? The problem with expanding the use of the IMF's SDR's is that a currency run by people who don't have a stake in it makes the currency controllers too detached from the economies relying on that currency. So far the Euro has been a success, but that has been easy because of the global expansion over the past seven years. During these times, different EU members will require differing solutions to their financial problems. New EU member Hungary, for example, is waiting for the EU to step up to the plate and dump billions in aid for it- they will be waiting a long time. Reserve currencies like the dollar, EU and Yen are trusted because those who run it have a direct stake and interest in it- therefore, you get the best management possible. The current financial crisis has nothing to do with the dollar being the dominant reserve currency. Even if the IMF SDR's were dominant, that would not have prevented other countries from buying into exotic financial instruments and vehicles from America.
Wednesday, April 1, 2009
Look at the NUMBERS
Who is really shirking their responsibility in keeping world trade open ? Let’s look at the latest
Numbers to prove that the U.S. continues to be the world leading importer-and with its chronic trade deficits- it’s amazing that the U.S. is being accused as touting “protectionist” policies- when in FACT, it’s America who is buying more products from other countries than other countries are buying from America. That is FACT versus propaganda anti-American FICTION. Look at the latest trade figures with China: (this news item is directly from China.org)
During the first two months of the year, China's exports to the US declined by 16.1 percent to US$29.1 billion, and imports were US$10.4 billion, down 20.9 percent, resulting in a trade surplus of US$18.7 billion.
So the truth is clear, it’s actually CHINA which is buying less from America- rather than America buying less from China- so the ACTUAL truth is the REVERSE of what the media and foreign governments are reporting. It is AMERICA alone which continues to buy foreign products even during this financial crisis, more than what foreigners are buying from America. Since China imports from America were down 20.9 percent, it means that its’ actually CHINA that is buying less- since American purchases FROM China were down only 16.1 % versus 20.9% for China.
The TRUTH is revealed.
Numbers to prove that the U.S. continues to be the world leading importer-and with its chronic trade deficits- it’s amazing that the U.S. is being accused as touting “protectionist” policies- when in FACT, it’s America who is buying more products from other countries than other countries are buying from America. That is FACT versus propaganda anti-American FICTION. Look at the latest trade figures with China: (this news item is directly from China.org)
During the first two months of the year, China's exports to the US declined by 16.1 percent to US$29.1 billion, and imports were US$10.4 billion, down 20.9 percent, resulting in a trade surplus of US$18.7 billion.
So the truth is clear, it’s actually CHINA which is buying less from America- rather than America buying less from China- so the ACTUAL truth is the REVERSE of what the media and foreign governments are reporting. It is AMERICA alone which continues to buy foreign products even during this financial crisis, more than what foreigners are buying from America. Since China imports from America were down 20.9 percent, it means that its’ actually CHINA that is buying less- since American purchases FROM China were down only 16.1 % versus 20.9% for China.
The TRUTH is revealed.
Monday, March 30, 2009
Hack Me !
A certain large Asian country is hacking thousands of computers worldwide !
No problem, sensitive computers are NOT connected to the net- impossible to hack. Relax.
No problem, sensitive computers are NOT connected to the net- impossible to hack. Relax.
America to Blame ?
LNR does not agree with Obama or others around the world who are blaming America for their involvement in the financial meltdown. The banks of those countries that purchased exotic securities, knowing full well that America’s real estate market (which underpinned the exotic securities) was a hyped up speculative bubble have 100% of the blame on themselves. Can you imagine what other countries would have said if America blocked them from buying these lucrative securities for the past ten years ? These banks knew about the bubble yet for short sightedness, continued to buy exotic securities- they- and no one else, especially America, are to blame. If you play with big money in hot speculation, you are taking a risk and experienced financial people know that. America blame- ZERO.
Wednesday, March 25, 2009
LNR Commentary about an article in the Economist Magazine
The Economist has based its entire analysis on convenient and contrived suppositions. This distorted picture is being presented as facts. The following facts are well known all over the world.- commentary from someone writing about an article in the Economist.
1 China is sitting on the largest cash reserves- economist
LNR Review commentary:
The only reason countries like China, and others, have “cash reserves” is because those reserves are in a currency other than their own. The reason certain countries keep, dollars, pounds, yen, Euro is because they are the main currencies in which settlements between currencies are made- they are a “global” mediums of exchange- currencies of other nations, like China, are not used for settlements in international trade, thus, countries with currencies which have “little” confidence in them- MUST have some reserves in one of the reserve currencies. Therefore there is no need that countries like America keep “reserves” because America’s currency IS the major reserve currency of the world. There are two other main reasons why China keeps large reserves- it must maintain liquidity to its importers and exporters because the RMB is not used for trade; second- China requires large reserves because there are gigantic financial losses on paper due to bad bank debts- China’s “toxic debt” which were extended during the real estate boom and to bankrupt state companies – these loans have no hope of recovery and merely remain on the books- understated or non-performing but hidden due to the wide lack of transparency in the Chinese banking system. However, the Chinese government is aware of the gigantic size of non-performing loans with banks and therefore has built up reserves to protect against a widespread banking collapse. Bottom line, the huge reserves of China does not reflect strength, but structural weakness.
2 Chinese banks do not have toxic debt like USA
See above: Toxic debt is an understatement- China specifically keeps enormous reserves to cover trillions of RMB in bad debt- these loans were made under pressure to state owned companies which according to international accounting standards- are bankrupt, and bad real estate loans which are non-performing or made against real estate assets with wildly inflated value appraisals.
3 America is trillions in debt
Yes: so what. America’s wealth- including derivatives is easily over 100 Trillion- therefore, although debt is high in relation to past ratio’s, America compared to many countries has lower debt to wealth. If one compares “deficits” to GNP/GDP it’s true that the current spending will put the ratio of debt to GNP much higher than in recent years, although not even near what it was during WWII era, thus, we are not in the range of “bankrupting’ America as some pundits have declared. America’s wealth is NOT measured by your GNP- that is “America’s “ income- not it’s wealth- and this is where the mistakes in comparisons are being made in the media.
4. America owes trillions to China
Hardly true: America owes in financial instruments- near ONE trillion but not “trillion S “ with an S. Remember, many countries including China buy American treasury bonds because of confidence and strength in America- and many American investors buy bonds- however, most American investment is attracted to higher yielding investments which are too sophisticated for foreigners- thus, most American capital flows to other investment vehicles and not treasury bonds. Even now, the Government has had NO lack of buyers for American debt. The bottom line- the fact that other countries, including China DOES NOT indicate any lack of funding based in America- since the yields for T-Bills are comparatively low for Americans- they invest in other things- but the safety + yield of T-bills for foreigners are attractive and they would rather invest in America than anywhere else- this indicates strength and confidence in the American government and economy- NOT weakness. In other words, if China and other countries were NOT to invest in T-bills- there is more than ample capital in America to buy up those T-bills- we don’t NEED foreign capital to buy our T-bills, if there were a lack of buyers- the yields in T-bills would rise commensurate to need of capital and American’s would flood the T-bill market with cash. How does one compare the wealth of America at over 100 Trillion dollars to China and Japan with an estimated 30 Trillion combined ? America is over 300% richer in total wealth than the second and third largest economies in the world combined. Does one think for a moment that America’ needs a few hundred billion dollars from foreigners to buy up the T-bills issued by the Government ? It’s a fallacy about foreigners and T-bills that has been around for many years.
5 China can produce goods much cheaper than Japan, Europe or USA, it has the competitive edge.
Yes: so what. That is the way of free markets- this does not indicate future success or wealth- the fact that you produce manufactured goods indicate a lack of a sophisticated post-industrial economy. The real money, with hi-technology, percision goods and intellectual services- are dominated by the USA, Japan and Europe. These jobs and economies deliver higher wages and better standards of living. It is not a “comparative” advantage (Michael Porter) for intelligent and educated citizens in the West to produce shoes or bricks. The “competitive” edge for China remains with low-tier goods. The “competitive” edge in technology, music entertainment, robotics, software, engineering, high quality goods, law, etc, etc. Clearly remains with the USA, Japan and Europe.
6 China has made huge strides in high technology in an extremely short time
Yes, of course, the technology is stolen, back-engineered or purchased or acquired through foreign investment in China. It was not “originated” in China however.
7 With its cash reserves, China can keep its economy going by developing the rest of the country; it has the money, the skill and the man power.
The cash reserves are just that- reserves- they are not part of the budget for infrastructure spending or development- they are a buffer for a banking system sitting on a heap of bad loans. The development funds are coming from the regular budget of China- NOT so-called reserves which are mainly in fixed investments and therefore could not be used in any case.
Man power- yes there is ample manpower to dig ditches, there is NOT ample man power for sophisticated managerial duties or high technology- that is why there are over 250,000 foreigners working in such jobs.
Unlike USA it does not need to borrow or fiddle by printing monopoly money.
That’s right, there is plenty of money in Chinese savings accounts to allow the banks to lend money for development- why- ? because there is no national health care system, there are no wide-reaching pensions, there is no modern social security system, there is no deposit insurance, and most people don’t own their own homes- so there is nowhere safe to invest their money. There are also 900 million Chinese NOT sharing in the wealth of China. It’s amazing how one speaks about China in the media everywhere, America and China, it forgets that there are TWO China’s – one third of the people live in middle class China – that we refer to in popular media- however, TWO THIRDS live in country side poverty- many levels below the Chinese middle class of the first and second tier cities. This is glaring fact almost always ignored. China doesn’t have NEAR the funds, reserves or resources to pull up TWO THIRDS of her improvrished population- therefore- where are your measurements of success ? If you wish to measure only ONE THIRD- then- yes- great success- but this is only possible by IGNORING- TWO thirds of your population- where is the success there ? So, the fact is that more and more of the available investment funds and “wealth” of China is going to have to be diverted to the other two thirds and less to continue pushing up the one third who have now achieved a middle class status- this will begin to stagnate upward mobility.
In America, most people have the majority of their investment and savings in their homes, not savings accounts. American’s also pay out for health insurance and private pension funds- this allows for and keeps a much higher standard of living for Americans. When you do not have those investment vehicles available, like in China, the majority of people stick the money in savings- however, these high saving rates reflect a lack of fundamental structural financial underpinnings of a modern society rather than “disposable” income.
9 China has demonstrated its ability in expanding their economy at a rate never achieved in history. What took the west 200 years to achieve, China has done in it mere 20 years.
Several factual errors, the rate of Chinese economic growth is nothing new for countries who have started at a very low baseline. China’s growth creating a middle class out of one third of the population is not any faster than growth that took place in Japan, South Korea, Singapore- about 30 years (China 1978-2008) so there is no historical breakthrough by China. In addition, in creating its high rate of growth, it mainly relied on America- enormous purchasing of cheap goods from China gave it the investment money it needed to develop further. America grew and developed basically on its own, not by being an export driven economy or direct foreign investments- America’s was a home grown natural growth that emerged from all the right factors, from culture, freedom, liberty, private property- to modern business ideas and capital accumulation. It was America that both Japan and China leaned on for their own growth, acting as a pulling force for both countries.
China has the edge in every sense. When all these facts are added together, the readers can come to their own conclusion. Even the most pessimistic will agree that unless the entire Chinese nation gets addicted to cocaine, China cannot fail in expanding their economy.
There is no edge “IN EVERY SENSE”, China is a classic example of an export driven economy supplanted by extremely low wages. You are basically exchanging low wage labor for the creation of giving middle class status to one third of your population. As all developing countries typically experience hyper-growth during their first phases of development, this inevitably slows down once economic development brings up wages- making you a much less competitive exporter (i.e. Japan- exporting boom in the 1960’s, 1970s- 1980’s slowing down- now a dead economy, South Korea- an export boom in the late 1980’s and 1990’s- now growth much lower- as a result of a developed economy). Once hot cash settles down, wages rise, and foreign direct investment slows down due to higher wages- strong economies DO NOT continue at growth rates of 8-10% (as evidenced by Japan and South Korea). China is not following a different path- it’s just a question of time when a developed Chinese economy radically slows down.
1 China is sitting on the largest cash reserves- economist
LNR Review commentary:
The only reason countries like China, and others, have “cash reserves” is because those reserves are in a currency other than their own. The reason certain countries keep, dollars, pounds, yen, Euro is because they are the main currencies in which settlements between currencies are made- they are a “global” mediums of exchange- currencies of other nations, like China, are not used for settlements in international trade, thus, countries with currencies which have “little” confidence in them- MUST have some reserves in one of the reserve currencies. Therefore there is no need that countries like America keep “reserves” because America’s currency IS the major reserve currency of the world. There are two other main reasons why China keeps large reserves- it must maintain liquidity to its importers and exporters because the RMB is not used for trade; second- China requires large reserves because there are gigantic financial losses on paper due to bad bank debts- China’s “toxic debt” which were extended during the real estate boom and to bankrupt state companies – these loans have no hope of recovery and merely remain on the books- understated or non-performing but hidden due to the wide lack of transparency in the Chinese banking system. However, the Chinese government is aware of the gigantic size of non-performing loans with banks and therefore has built up reserves to protect against a widespread banking collapse. Bottom line, the huge reserves of China does not reflect strength, but structural weakness.
2 Chinese banks do not have toxic debt like USA
See above: Toxic debt is an understatement- China specifically keeps enormous reserves to cover trillions of RMB in bad debt- these loans were made under pressure to state owned companies which according to international accounting standards- are bankrupt, and bad real estate loans which are non-performing or made against real estate assets with wildly inflated value appraisals.
3 America is trillions in debt
Yes: so what. America’s wealth- including derivatives is easily over 100 Trillion- therefore, although debt is high in relation to past ratio’s, America compared to many countries has lower debt to wealth. If one compares “deficits” to GNP/GDP it’s true that the current spending will put the ratio of debt to GNP much higher than in recent years, although not even near what it was during WWII era, thus, we are not in the range of “bankrupting’ America as some pundits have declared. America’s wealth is NOT measured by your GNP- that is “America’s “ income- not it’s wealth- and this is where the mistakes in comparisons are being made in the media.
4. America owes trillions to China
Hardly true: America owes in financial instruments- near ONE trillion but not “trillion S “ with an S. Remember, many countries including China buy American treasury bonds because of confidence and strength in America- and many American investors buy bonds- however, most American investment is attracted to higher yielding investments which are too sophisticated for foreigners- thus, most American capital flows to other investment vehicles and not treasury bonds. Even now, the Government has had NO lack of buyers for American debt. The bottom line- the fact that other countries, including China DOES NOT indicate any lack of funding based in America- since the yields for T-Bills are comparatively low for Americans- they invest in other things- but the safety + yield of T-bills for foreigners are attractive and they would rather invest in America than anywhere else- this indicates strength and confidence in the American government and economy- NOT weakness. In other words, if China and other countries were NOT to invest in T-bills- there is more than ample capital in America to buy up those T-bills- we don’t NEED foreign capital to buy our T-bills, if there were a lack of buyers- the yields in T-bills would rise commensurate to need of capital and American’s would flood the T-bill market with cash. How does one compare the wealth of America at over 100 Trillion dollars to China and Japan with an estimated 30 Trillion combined ? America is over 300% richer in total wealth than the second and third largest economies in the world combined. Does one think for a moment that America’ needs a few hundred billion dollars from foreigners to buy up the T-bills issued by the Government ? It’s a fallacy about foreigners and T-bills that has been around for many years.
5 China can produce goods much cheaper than Japan, Europe or USA, it has the competitive edge.
Yes: so what. That is the way of free markets- this does not indicate future success or wealth- the fact that you produce manufactured goods indicate a lack of a sophisticated post-industrial economy. The real money, with hi-technology, percision goods and intellectual services- are dominated by the USA, Japan and Europe. These jobs and economies deliver higher wages and better standards of living. It is not a “comparative” advantage (Michael Porter) for intelligent and educated citizens in the West to produce shoes or bricks. The “competitive” edge for China remains with low-tier goods. The “competitive” edge in technology, music entertainment, robotics, software, engineering, high quality goods, law, etc, etc. Clearly remains with the USA, Japan and Europe.
6 China has made huge strides in high technology in an extremely short time
Yes, of course, the technology is stolen, back-engineered or purchased or acquired through foreign investment in China. It was not “originated” in China however.
7 With its cash reserves, China can keep its economy going by developing the rest of the country; it has the money, the skill and the man power.
The cash reserves are just that- reserves- they are not part of the budget for infrastructure spending or development- they are a buffer for a banking system sitting on a heap of bad loans. The development funds are coming from the regular budget of China- NOT so-called reserves which are mainly in fixed investments and therefore could not be used in any case.
Man power- yes there is ample manpower to dig ditches, there is NOT ample man power for sophisticated managerial duties or high technology- that is why there are over 250,000 foreigners working in such jobs.
Unlike USA it does not need to borrow or fiddle by printing monopoly money.
That’s right, there is plenty of money in Chinese savings accounts to allow the banks to lend money for development- why- ? because there is no national health care system, there are no wide-reaching pensions, there is no modern social security system, there is no deposit insurance, and most people don’t own their own homes- so there is nowhere safe to invest their money. There are also 900 million Chinese NOT sharing in the wealth of China. It’s amazing how one speaks about China in the media everywhere, America and China, it forgets that there are TWO China’s – one third of the people live in middle class China – that we refer to in popular media- however, TWO THIRDS live in country side poverty- many levels below the Chinese middle class of the first and second tier cities. This is glaring fact almost always ignored. China doesn’t have NEAR the funds, reserves or resources to pull up TWO THIRDS of her improvrished population- therefore- where are your measurements of success ? If you wish to measure only ONE THIRD- then- yes- great success- but this is only possible by IGNORING- TWO thirds of your population- where is the success there ? So, the fact is that more and more of the available investment funds and “wealth” of China is going to have to be diverted to the other two thirds and less to continue pushing up the one third who have now achieved a middle class status- this will begin to stagnate upward mobility.
In America, most people have the majority of their investment and savings in their homes, not savings accounts. American’s also pay out for health insurance and private pension funds- this allows for and keeps a much higher standard of living for Americans. When you do not have those investment vehicles available, like in China, the majority of people stick the money in savings- however, these high saving rates reflect a lack of fundamental structural financial underpinnings of a modern society rather than “disposable” income.
9 China has demonstrated its ability in expanding their economy at a rate never achieved in history. What took the west 200 years to achieve, China has done in it mere 20 years.
Several factual errors, the rate of Chinese economic growth is nothing new for countries who have started at a very low baseline. China’s growth creating a middle class out of one third of the population is not any faster than growth that took place in Japan, South Korea, Singapore- about 30 years (China 1978-2008) so there is no historical breakthrough by China. In addition, in creating its high rate of growth, it mainly relied on America- enormous purchasing of cheap goods from China gave it the investment money it needed to develop further. America grew and developed basically on its own, not by being an export driven economy or direct foreign investments- America’s was a home grown natural growth that emerged from all the right factors, from culture, freedom, liberty, private property- to modern business ideas and capital accumulation. It was America that both Japan and China leaned on for their own growth, acting as a pulling force for both countries.
China has the edge in every sense. When all these facts are added together, the readers can come to their own conclusion. Even the most pessimistic will agree that unless the entire Chinese nation gets addicted to cocaine, China cannot fail in expanding their economy.
There is no edge “IN EVERY SENSE”, China is a classic example of an export driven economy supplanted by extremely low wages. You are basically exchanging low wage labor for the creation of giving middle class status to one third of your population. As all developing countries typically experience hyper-growth during their first phases of development, this inevitably slows down once economic development brings up wages- making you a much less competitive exporter (i.e. Japan- exporting boom in the 1960’s, 1970s- 1980’s slowing down- now a dead economy, South Korea- an export boom in the late 1980’s and 1990’s- now growth much lower- as a result of a developed economy). Once hot cash settles down, wages rise, and foreign direct investment slows down due to higher wages- strong economies DO NOT continue at growth rates of 8-10% (as evidenced by Japan and South Korea). China is not following a different path- it’s just a question of time when a developed Chinese economy radically slows down.
Thursday, March 12, 2009
United Nations said what ?
WASHINGTON (AP) - The White House objected Thursday to U.N. Secretary-General Ban Ki-moon's description of the United States as a "deadbeat" donor to the world body.
MARCH 12
LNR’s author worked for the United Nations for 12 years. For the Ban Ki Moon, Secretary General of the United Nations to call the USA a “deadbeat” in paying its dues is one of the most incredible statements to come out of a Secretary General. As LNR’s author can personally testify, the UN is “the” “consummate” actor of corruption, greed, embezzlement, cheating, dirty politics and incompetency. In missions’ that the LRN author served in, i.e. the UNCRO (United Nations in Croatia Mission) was constantly being “saved” by monetary donations (voluntary contributions) by the United States to keep the mission going. The Mission in Bosnia where LNR’s author served in Sarajevo, Banja Luka, Tuzla, the mission would have collapsed without USA funding. Ban Ki Moon and his predecessors constantly fail to explain WHY the US is behind in contributions. It is because of the gigantic waste and corruption in various UN departments, the US must receive verifications before it can release funds to the UN.
If Ban Ki Moon and his predecessors ever find the strength and guts to clean up the UN, perhaps contributors would not be weary of giving their nations taxpayer dollars.
MARCH 12
LNR’s author worked for the United Nations for 12 years. For the Ban Ki Moon, Secretary General of the United Nations to call the USA a “deadbeat” in paying its dues is one of the most incredible statements to come out of a Secretary General. As LNR’s author can personally testify, the UN is “the” “consummate” actor of corruption, greed, embezzlement, cheating, dirty politics and incompetency. In missions’ that the LRN author served in, i.e. the UNCRO (United Nations in Croatia Mission) was constantly being “saved” by monetary donations (voluntary contributions) by the United States to keep the mission going. The Mission in Bosnia where LNR’s author served in Sarajevo, Banja Luka, Tuzla, the mission would have collapsed without USA funding. Ban Ki Moon and his predecessors constantly fail to explain WHY the US is behind in contributions. It is because of the gigantic waste and corruption in various UN departments, the US must receive verifications before it can release funds to the UN.
If Ban Ki Moon and his predecessors ever find the strength and guts to clean up the UN, perhaps contributors would not be weary of giving their nations taxpayer dollars.
LNR Right Again
Luko News Review (LNR) said more than two days ago, that because Mexico's drug
gangs had now become a serious threat to US Security, it is imperative that
the President sends a massive number of troops to the border. As LNR noted, it
would not be constitutional to use regular army troops for police action, and National Guard Units are not numerous enough and should remain ready to support
troops in Iraq and Afghanistan. Today, Obama is "considering" moving "a small number" of National Guard Units to the border.
Well, as LNR likes to point out, it is the paramount job of the President to
protect that country, and a "small number" of troops are not enough. We must
take the threat seriously, and LNR advocated a large number of boots on the ground
because, just as Obama mentioned today, the border is extremely long. LNR also pointed out that employed is 'the' KEY factor in economic recovery, so why not
kill two birds with one stone, a massive hiring of people with some backgrounds in police, security, military, law enforcement, etc. and deploy them to the border. It is the DUTY of the President to take these measures quickly.
See LNR story below TWO days ago advocating sending troops to the border ( LNR is two days ahead of the President)
gangs had now become a serious threat to US Security, it is imperative that
the President sends a massive number of troops to the border. As LNR noted, it
would not be constitutional to use regular army troops for police action, and National Guard Units are not numerous enough and should remain ready to support
troops in Iraq and Afghanistan. Today, Obama is "considering" moving "a small number" of National Guard Units to the border.
Well, as LNR likes to point out, it is the paramount job of the President to
protect that country, and a "small number" of troops are not enough. We must
take the threat seriously, and LNR advocated a large number of boots on the ground
because, just as Obama mentioned today, the border is extremely long. LNR also pointed out that employed is 'the' KEY factor in economic recovery, so why not
kill two birds with one stone, a massive hiring of people with some backgrounds in police, security, military, law enforcement, etc. and deploy them to the border. It is the DUTY of the President to take these measures quickly.
See LNR story below TWO days ago advocating sending troops to the border ( LNR is two days ahead of the President)
Wednesday, March 11, 2009
Where's Your Boot Straps ????
Mental Stress Spirals with Economy
America's Billionaires Loosing Money
Hollywood Favorites Lose Money with Madoff
The White House Versus Jim Cramer and Rush Limbaugh
Economic Woes Lead to Mass Shootings
blah blah blah, the whimpering headlines continue. Is America that weak ? Cannot we not face a challenge and FIND our "bootstraps" and pull ourselves out ! Following
up on yesterdays story, where Obama should relinquish his salary in favor of $1 per year, should be telling American's to find your bootstraps and pull yourselves up !
work hard- find another job- create a job- work two jobs ! We are letting the bad news get the best of us. Obama is not being a strong leader to inspire America- he is instead- turning to socialism- the GOVERNMENT will save you, your homes, your companies, the car industry, the climate !!! how about hard work and sacrifice- he should be telling America to get innovative, work harder, and that America's government is going to double their hours and effort to get things going through good ideas. Obama is picking economic lightweights to manage the mess and it's NOT working and WILL NOT work as long as he keeps those lightweights on the job.
America is looking for inspired leadership of hope and ability to overcome, NOT, the government will send you a check so relax- we'll just print inflationary dollars and buy our way out of this mess. We need more- we need a real leader.
America's Billionaires Loosing Money
Hollywood Favorites Lose Money with Madoff
The White House Versus Jim Cramer and Rush Limbaugh
Economic Woes Lead to Mass Shootings
blah blah blah, the whimpering headlines continue. Is America that weak ? Cannot we not face a challenge and FIND our "bootstraps" and pull ourselves out ! Following
up on yesterdays story, where Obama should relinquish his salary in favor of $1 per year, should be telling American's to find your bootstraps and pull yourselves up !
work hard- find another job- create a job- work two jobs ! We are letting the bad news get the best of us. Obama is not being a strong leader to inspire America- he is instead- turning to socialism- the GOVERNMENT will save you, your homes, your companies, the car industry, the climate !!! how about hard work and sacrifice- he should be telling America to get innovative, work harder, and that America's government is going to double their hours and effort to get things going through good ideas. Obama is picking economic lightweights to manage the mess and it's NOT working and WILL NOT work as long as he keeps those lightweights on the job.
America is looking for inspired leadership of hope and ability to overcome, NOT, the government will send you a check so relax- we'll just print inflationary dollars and buy our way out of this mess. We need more- we need a real leader.
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