Update: Health Care Action Alert: Call Your Critters!!!
Update: Here is the timeline, they are trying to do it before reconciliation under the budget expires AND before they come home to face us for Easter recess...Ive heard of Christmas and Easter Catholics but Christmas and Easter CongressCritters? frakkers…
…John Lawrence, chief of staff to House Speaker Nancy Pelosi, told health care activists in a conference call Friday that Congress needed to act before the Easter recess, or they could see a repeat of the tumultuous August break. Only this time, Republicans will use reconciliation to characterize the party as “shoving it down our throats,” Lawrence said, according to notes provided by a person on the call….
Having lived through the Democratic primaries as an HRC supporter, when Hillary kept winning the big electoral state primaries and Obama kept swiping caucuses, only to have the Dem leadership push Obama as ‘the candidate’ again and again and again, I am sadly not SHOCKED! that these fools are on a kamikaze mission on health care…that is the whole problem with this group, they have no ‘off’ switch, no ‘self-preservation’ mode….why?
four words for you…Nancy Pelosi and Andy Stern.
IMO Nancy Pelosi helped ‘select’ Obama and Andy Stern (SEIU) funded him and proivded the busloads of ‘caucus’ voters and rally crowds coast to coast.
They are calling in the debt IMO and this is why Obama will not listen to Rahm and do the scaled down bill.
PLEASE CALL YOUR CRITTERS. Let them know reconciliation is not an option the American people accept on this massive bill that we have said N-O to, over and over and over again.
WSJ covers the arrogance of these pseudo intellectual, social engineering, elitist toolz here.
Obama actually appointed Stern to his ‘deficit reduction commission’, pffft!!! Does he think we are BLIND or what??
Update: Maxine Waters D-CA shows the dangers of political influence on the Fed; Market Mover Wednesday: Ben on the Hill
Update: Maxine Waters D-CA, perfectly demonstrated the dangers of the political pressure and influence on the Federal Reserve. Rep. Waters thought the .25 increase in the Discount rate was like the raising of the Fed Funds Rate and would move the yield curve and mortgage rates. Her reaction tells you what will happen when the Fed finally DOES tighten. Imagine what the Critters will do when the Fed tries to sell the MBS it bought@ Fuggedaboudit@ She has Gentle Ben promising not to tighten for an ‘extended period’. If I had any way to bet the Fed wouldnt move for far too long I would…Gawd save us from the inflation…
10:15 am EST: Ben just began his opening remarks to the Financial Services Cmte. The Fed is predicting UE to drop to 6% in…wait for it…2012….consumer prices expected to rise 1-2% from 2010-2012….they still do not believe we can have inflation with declining wages….
I think this cycle will prove them wrong, of course when I buy food and gas no one asks me for the ‘core’ rate, they ask me for more of my money
…in other news new home sales dropped 11% in January…
LiveStream here
Update: $860,000! FL Senate: Moneybomb for Marco!
Update 4: we did it! with DeMint’s moneybomb and the stimulus moneybomb we passed the target! From the Rubio Campaign:
This week, we marked the first anniversary of the Crist-Obama stimulus rally by achieving our goal of raising $1,000 for every $1 billion wasted by the stimulus plan. With your help and the support of Sen. Jim DeMint’s Senate Conservatives Fund, we raised more than $860,000 in just 10 days from 11,000 donors through the Stimulus Bomb. Together, we sent big government proponents like President Obama and Governor Crist a message that we cannot continue spending money we don’t have and that a return to limited government principles is what will make America strong and prosperous. With the primary still 6 months away, now more than ever we must promote conservative values and endure in our efforts.
In Case You Missed It:
- Charlie Crist has repeatedly declined requests from Marco for a debate of the issues and ideas most important to Floridians. This week, FOX News tried their luck by inviting both Marco and Crist to participate in a nationally televised debate on March 28th. Marco immediately accepted, while Crist remains undecided.
- On Wednesday, FreedomWorks PAC marked the one year anniversary of the Crist-Obama rally with their own rally, which featured Marco. You can watch a short excerpt of his speech here.
- This week, we also launched a new text messaging campaign. Don’t forget to sign up for updates on your mobile phone by texting MARCO to 69467.
Update 3: 2/11- Results of the moneybomb to be released at noon EST today!
Update: 9:21pm EST: WooHoo, we are almost there! $708k so far!!!! Sheer awesomeness!
Update: 9:50am EST: I had a hard time getting through to make my donation, a great sign! Everyone please give what you can!
Today’s the day! Please try to find some cha-ching for Marco, every bit counts. My $7.87 may not be much, but if enough Americans pitch in we can make a difference!
Courtesy of MarcoRubio:
With the February 10th anniversary of the Crist-Obama stimulus rally coming up, Marco launches a Stimulus Fundraising Bomb with a goal of raising $787,000 – $1000 for every $1 billion wasted on the stimulus. Learn more at www.StimulusBomb.com
Marco spoke at the 2010 Freedom Forum in January:
And hey! It’s Time to Start the Countdown!
WH Christina Romer on Jobs Summit
Update: Another GOP Senator backing a payroll tax cut. Orin Hatch R-(UT?) on FOX Biz Happy Hour calling for one. GOP had an economic round table today and leader Boehner came out for a payroll tax cut. I have noticed for 10 years now that whatever party is in power the OTHER one always backs the payroll tax cut but I have never seen any of them enact one!
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Vodpod videos no longer available.
Oh boy. Not a word about a payroll tax cut. Doesn’t sound like there is anything to look forward to in the new 300 billion jobs bill except perhaps the COBRA subsidy extension. The big plan that Christy says she does not want to get in front of Obama announcing (too late Christy, Pelosi already let the cat out of the bag) is to use the unused TARP funds to pay for this jobs program.
Glad they are not earmarking more money but canlt they just let us keep some of our own money. A payroll tax holiday would IMO BOOST state local income more than a Federal bailout. All the new hires form the employer side of the payroll cut and all the retail spending in sales taxes on the employee side of the payroll tax cut would generate IMO far more revenue for the states then another federal bailout of the states!
When Doves Cry: GOP fights to save Medicare from Democratic cuts…
Yes we ARE through the looking glass. I don’t care WHO is standing up for Medicare as long as someone is standing tall dammit.
MAC has an amendment to stop the Medicare cuts. The Democrats plan to kill it. He is on Kudlow now, we will post it as soon as the video comes up. He wants Medicare left intact and a payroll tax cut!! It is 500billion to start, that kind of cutting is going to HURT.
I am unwilling to throw the Baby Boomers under the bus to give 15 million people crappy coverage. The other 15 million can damn well take their axx to the Medicaid line like they do for Food Stamps and other assistance. I have been there, they don’t bite people. God helps those who help themselves. Go sign up for the safety net that is available if you and your family need it.
Would I like to expand coverage? LOVE TO! Did I plan to do so under HRC? Damn yes BEFORE THE ECONOMIC MELTDOWN AND LOSS OF TRILLIONS AND THE HUGE GAPING MAW OF THE DEFICIT ! DOOM I SAY DEFICIT DOOM!!!
okay, back to the GOP fighting for Medicare:
Courtesy of my Senator Jon Kyl R-AZ:
Jon Kyl, U.S. Senate Republican Whip, speaking on the Senate floor in favor of the McCain Amendment that would prevent the cuts in Medicare outlined in the Senate ObamaCare bill. As it stands, the Democrats’ bill will cut at least $450 BILLION from Medicare in order to pay for their new government-run health care system. December 2, 2009.
Updates: Bernie Sanders I-VT seeks to put hold on Bens renomination; Black Swan says he will shun public life if Ben reconfirmed; Mark Zandi agrees double dip for housing ahead; Flashback: Bernanke in Denial 2005-2007
Update 2: Breaking on CNBC via Politico Bernie Sanders I-VT trying to put hold on Bens renomination hearing tomorrow. But they seem to have the 60 votes they need. Also today Taleb, of the Black Swan said if Ben is reconfirmed he will leave public life, seriously:
Nassim Taleb, the author of “The Black Swan”, said he would retreat from public life if Federal Reserve Chairman Ben Bernanke gains a second term at the helm of the central bank.”What I am seeing and hearing on the news — the reappointment of Bernanke — is too hard for me to bear,” Taleb wrote on his blog on The Huffington Post.
“I am not blaming Bernanke (he doesn’t even know he doesn’t understand how things work or that the tools he uses are not empirical); it is the Senators appointing him who are totally irresponsible — as if we promoted every doctor who committed malpractice,” he wrote.Taleb wrote he will not take part in interviews in the press and will not go to the World Economic Forum in Davos in January.
“I need to withdraw as immediately as possible into the Platonic tranquility of my library, work on my next book, find solace in science and philosophy, and mull the next step,” he wrote, adding that “I will only (briefly) emerge from my hiatus when the publishers force me to do so upon the publication of the paperback edition of The Black Swan.”…
Update: Boy it is exhausting having these fancy pants academics and/or advisers to MAC and Obama come along and agree with MiM months after we take a position, like being Cassandra, it sucketh big time. Now I just heard Marty Feldstein agreeing on Kudlow too, lol. To be fair Feldstein came out on this in October...sure now that it’s COOL to say there is a double dip ALL the kids wanna do it!
Soon Orszag and Krugman will be the cheese, and we all know the cheese stands alone.
Mark Zandi of Moodys (who will be at the big job summit this week, and who is at every Nancy Pelosi jobs bill panel as well), the man who advised MAC and later the Congress on the stimulus, is now forecasting a second leg down in housing, a big one, the one we and others have been yammering on about for months.
Maybe now that one of the chosen few who get listened to (despite often being quite wrong) and whose ideas are often quite unsuccessful (see WSJ on Orszag and Stiglitz’ EPIC FAIL on the risk posed by FAN FRED that somehow gets them promoted and invited to all the summits and now they help design all our economic policy and even our healthcare system!!) is on board with the fact that housing is in imminent danger of collapsing under the continuing deterioration of employment and the failure of the mo mods. Well maybe now they will do the damned HOLC and get it done.
FDR did it, in out boom,. Buy the home loans from the banks,w e already own them in FAN FRED anyway, write down 20% everyone underwater, boom, done. Let homeowners pay it off via their taxes to the government. Give a payroll tax holiday. Stop the uber spending in areas that don’t help the underlying economy. The entire 78 billion directed to housing is still sitting there waiting to be paid out on permanent mods that aren’t happening.
The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said Wednesday.
Home prices, as measured by the Standard & Poor’s/Case-Shiller U.S. National Home Price Index, will trough in the third quarter of 2010 after declining 38 percent, Zandi said. The index peaked in the second quarter of 2006 and hit a trough in the first quarter of 2009, a drop of about 32 percent. Home prices in many regions have been rising.That is because foreclosure sales fell over the summer and fall as mortgage servicers have tried to put stressed homeowners into the Home Affordable Modification Program and other modification plans, he said. “This lull in foreclosures sales has resulted in the price gains in the past few months,” he said.
“Foreclosure sales will increase, and home prices will resume their decline by early 2010 as mortgage servicers figure out who will not qualify for a modification,” he said.
Zandi said 7.5 million foreclosure sales will have taken place between 2006 and 2011. The majority of these sales, however, have not emerged yet, with 4.8 million foreclosure sales expected between 2009 and 2011….
WH ‘Jobs Forum’ to feature ‘Green’ jobs sector leaders and labor, shockah!
Oh good gawd. Just CUT PAYROLL TAXES!! Just STOP THE HEALTH CARE BILL and Green regulations and taxing like crazy and small business will hire!
What will they do now, force Disney to paint their roofs white? Notice labor and green jobs are the focus here. And like 3 small business owners for good optics. Plus a bunch of academics, all of whom loved Obama in our primaries, like Stiglitz. Lord Help Us.
WHITE HOUSE ANNOUNCES JOBS FORUM HEADLINERS — An aide says Thursday’s forum “will have approximately 130 attendees for the jobs forum including small business owners, experts from green jobs sector, business leaders, academics, mayors and representatives from nonprofits.”
CONFIRMED ATTENDEES INCLUDE: Eric Schmidt, Google (MiM here-GOOG-the company has a 30% profit margin and uses more carbon than anyone else on the list but he is Obama’s buddy so there ya go); Randall Stevenson, AT&T; Surya Mohapatra, Qwest ; Frederick Smith, Fed Ex; Brian Roberts, Comcast; Bob Iger, Disney; James McNerney, Boeing; Andrew Livens, Dow; Peter Solmssen, Siemens; Stephanie Burns, Dow Corning;
Phaedra Ellis Lamkins, Green for All; Reed Hundt, Coalition for the Green Bank; Larry Mishel, EPI; Alan Blinder, Princeton; Paul Krugman, Princeton; Joe Stiglitz, Columbia; Bob Greenstein, Center on Budget and Policy Priorities; and Jeffrey Sachs, Columbia.
PLUS SMALL BUSINESS OWNERS, including David Ickert, Air Tractor; Woody Hall, Diversapack; and Rose Wang, Binary Group.
AND Anna Burger, Change to Win; Leo Gerard, United Steel Workers; Joe Hansen, United Food and Commercial Workers; Randi Weingarten, AFT; Mayor Frank Cownie, Des Moines; Mayor Julian Castro, San Antonio; and Mayor Ed Pawlowski, Allentown, Pa.
Dubai Debt Delay sends markets spinning, US Dollar hits 14 year low against yen…
Dubai World's real-estate subsidiary, Nakheel, built the emirate's iconic palm-tree-shaped island, packed with luxury villas and hotels. Bloomberg
Dubai is delaying its billions in debt repayments, markets are tanking, ours are closed for the Holiday. Tomorrow should be interesting…
Dubai World, with $59 billion of liabilities, is seeking to delay debt payments, sending contracts to protect the emirate against default surging by the most since they began trading in January.The state-controlled company will ask creditors for a “standstill” agreement as it negotiates to extend maturities, including $3.52 billion of Islamic bonds due Dec. 14 from its property unit Nakheel PJSC, Dubai’s Department of Finance said in an e-mailed statement. Moody’s Investors Service and Standard & Poor’s cut the ratings on several state companies, saying they may consider the plan a default.
“Extending the maturity of Nakheel debt is feeding the market’s uncertainty on which debt Dubai will honor in full,” said Rachel Ziemba, a senior analyst covering sovereign wealth funds at New York-based Roubini Global Economics. “They look desperate and the market is concerned that in the long term Dubai’s indebtedness is rising not falling.”
Dubai accumulated $80 billion of debt by expanding in banking, real estate and transportation before credit markets seized up last year. Contracts protecting against default rose 116 basis points to 434 basis points yesterday, the most since they began trading in January, ranking it the sixth highest-risk government borrower, according to credit-default swap prices from CMA Datavision in London. The contracts, which increase as perceptions of credit quality deteriorate, are higher than Iceland’s after climbing 131 basis points in November, the biggest monthly increase since January….
Moderate in the Middle 