I have been reading many of the various proposals to solve the financial crisis that we are facing here in the United States and the rest of the globe because the securities that are tied to the values of the troubled US assets were sold all over the world.
The United States is in a period that should be ripe for an instant and tremendous boom in growth. Energy prices are incredibly low, index rates are ridiculously low… and yet nothing is moving and credit, the lubricant of the economy, is not being extended or is extended at a premium.
First, a bit of a conversation about why banks are having solvency issues and are therefore either not lending or are lending at a premium….
The Rest Of This Post Has Been Moved To My New Home, Please CLICK HERE
Mountain Sage is a friend of mine and has done some fantastic work tracking down the API and exposing them for the frauds they very likely are.
Now that Mr. Korir is scrubbing his website, Mountain Sage has gone into overdrive to try to make sure that this alleged scam artist is truly brought out of the shadows and into the light.
She contacted me to help her track a few things down for her and to help out with some background research on Sammy Korir. I used to work as a researcher, so it’s like second nature to me. “No problem,” I said…. And I got to work.
The Rest Of This Article Has Been Moved To My New Home. Please Click HERE
Filed under: Barack Obama, Developing Stories Of A Questionable Nature | Tagged: African Press International, API, hoax, Korir, Michelle, Michelle Obama. Mobama, Mountain Sage, Obama, Sammy, Sammy Korir, scam | 5 Comments »
This is a video made by HonestAmerican2008. It is a news report on the ridiculous claim that API made about having a tape of Michelle Obama talking about Barack and his adoption by Lolo Soetoro, an Indonesian citizen.
The breakthrough investigative journalism was done by my friend and blogger extraordinaire….
The Rest Of This Post Has Been Moved To My Blog’s New Home – CLICK HERE
On July 17th, I wrote a post about why I thought Kennedy decided to endorse Barack Obama.
The basic premise was that….
The Rest Of This Article Has Been Moved To My New Home. Please CLICK HERE
UPDATE (06 November 2008): This missive has been updated from its original publishing. The chart in this missive has been replaced with three more up-to-date charts reflecting current polling figures and market values. (Click here for more information on post election markets)
LONG BEACH/ATLANTA— The current stock market unrest reflects a pervasive fear of the future in the US economy. Further, Barack Obama is leading in the polls, and is leading substantially in some. But how does Mr. Obama’s rise correlate to the volatility in the stock market? Does his rise in the polls mean people are turning to him as a result of the volatility? Or does the volatility in the market mean investors are concerned about Mr. Obama’s rise in the polls?
Much has been written about what impact the Obama tax hikes on capital gains, corporations and wage earners earning over $250,000 may have on the American economy. I personally speculate that Mr. Obama’s tax plans will put quite a damper on the market and will slow recovery from the current recession (and thus I’m not voting for him!). But I readily admit that this is all an academic debate at this point- we will not know for sure until Mr. Obama is elected and enacts his plans.
Some speculate that the current volatility in stock market prices confirms that investors have similar perceptions of Mr. Obama’s plans. They dub the current depressed market as reflecting the “Obama Discount.” Markets generally reflect investors perceptions about the prospects of the economy in the upcoming 6 to 9 months. With stocks slumping, those perceptions must not be good. Some suggest that the stock slump directly correlates to the rise in Mr. Obama’s polling numbers. They argue that the slump reflects a general fear among investors that Mr. Obama’s policies on taxes, labor unions, energy consumption surcharges, and expanded regulation (among others) will be a burden on economic recovery.
But is the “Obama Discount” true? Clearly, the overarching concern impacting the stock market is that we are in the midst of the worst financial crisis since the Great Depression, with much uncertainty abounding. There is no doubt that this is the primary driver of the uncertainty and volatility.
Nonetheless, the market’s movements are not fully making sense. Major governments have moved swiftly to inject capital into the markets and credit is thawing (ever so slightly). I have argued previously that government movements into the economy may be exacerbating market anxiety, but the conventional wisdom is that these movements are addressing investor concerns about available liquidity and thus stocks should stabilize.
But the conventional wisdom is not happening. The Dow is still dropping considerably, even among companies who offer low priced goods and would seemingly benefit during a downturn (companies such as McDonald’s and WalMart). Supporters of the Obama Discount theory suggest that this unexplained movement confirms investor concerns about the US economy under Mr. Obama.
To test this theory, we created the graph below, comparing the movements in the polls to the movements in the Dow Jones Industrial average.
CLICK HERE For The Graphs. They will amaze you.
Remember… My Blog Is Moving As Well… Please Visit My New Blog At http://texashillblog.blogspot.com
The big question that has been getting me in the wake of Barack Obama’s election is, “Will he name a woman to a top cabinet position?”
As I listen to the names of his transition team and cabinet begin to leak out, with others being talked about, the one thing I do not hear is the name of a woman.
Chief of Staff – Rahm Emanuel
Sec State – Bill Richardson or John Kerry
Sec Def – Chuck Hagel (a Republican no-less)
Sec Treas – Paul Vockler
Sec EPA – RFK Jr
Notice the lack of a woman’s name? And I am not even talking about Hillary Clinton, who many Democrats, including Joe Biden himself, think deserved to be named AT LEAST Vice President.
And now, Obama is likely to even pass her up in considering who to name to top cabinet spots?
Hell, the Republicans named Sarah Palin to the VP slot, Condi Rice to the NSA and then Sec State slots… and yet Obama, even as a Senator….
For The Rest Of The Post, Please CLICK HERE
In the last 48 hours since Barack Obama was declared President-Elect, the dow has dived over 700pts and is nearing an 800+pt dive.
I am thrilled. Can’t you tell?
Lets all watch it dive together! YAY!!!
Not really the change I was hoping for….
Lines were long and tempers flared Wednesday not to vote but to get paid for canvassing for Barack Obama. Several hundred people are still waiting to get their pay for last-minute campaigning. Police were called to the Obama campaign office on North Meridian Street downtown to control the crowd.
The line was long and the crowd was angry at times.
“I want my money today! It’s my money. I want it right now!” yelled one former campaign worker.
A former spokesman for the Obama campaign said 375 people were hired as part of the Vote Corps program and said people signed up to work three-hour shifts at a time. Three hours of canvassing got workers a $30 pre-paid Visa card.
The workers showed up to get their cards Wednesday morning at 10:00 am.
“There was a note on the door saying 1:00 pm and then at 1:20 pm everybody was like why is nobody here. They just got here and they’re trying to get it organized,” said Heather Richards, a former campaign worker.
The large gathering of around 375 people prompted police to call in extra officers and set up temporary barricades. The barricades helped keep the crowd from spilling out onto Meridian Street. Police say the several hundred people in line were for the most part orderly.
“No arrests. Some of the people were upset at first because the line wasn’t moving as fast as they thought it should. But we really haven’t had any problems,” said Major Darryl Pierce, Metro Police.
Eventually people did start getting paid, but some said they were missing hours and told to fill in paperwork making their claim and that eventually they would get a check in the mail.
“Still that’s not right. I’m disappointed. I’m glad for the president, but I’m disappointed in this system,” said Diane Jefferson, temporary campaign worker.
“It should have been $480. It’s $230,” said Imani Sankofa.
“They gave us $10 an hour. So we added it. I added up all the hours so it was supposed to be at least $120. All I get is $90,” said Charles Martin.
“I worked nine hours a day for 4 days and got paid half of what I should have earned,” said Randall Waldon.
Some people weren’t satisfied with filling out a claim form for money they felt was still due to them.
“They say that they gonna call you or they going to mail it to you, but I don’t know. We’ll see what happens,” said Antron Grose.
“Talking about they’ll mail it to us. I ain’t worried about that, man. They’re not going to mail nothin’,” said Martin.
As my friend diggins says… “Can You Feel The Hopechangery Yet?”
Universal Healthcare Not Happening.
House Speaker Nancy Pelosi is seeking to limit expectations on what a new Democratic regime will be able to achieve in the 111th Congress.
“We have to choose our priorities” and decide “what is achievable,” Pelosi told reporters this morning, adding: “A lot of it is about time.” She saied that the current economic conditions and budget deficit “are going to make it harder” to do some big things dear to Democrats, like comprehensive health care reform.
Unemployment Will Go Up No Matter What
NEW YORK (CNNMoney.com) — Here’s the challenge facing President-elect Barack Obama as he weighs how to create more jobs: another half-million jobs likely will be lost between now and Inauguration Day.
That’s not even counting the 200,000 jobs that economists believe employers trimmed last month, according to estimates from Briefing.com. The October jobs report will be released this Friday.
The unemployment rate is expected to climb to 6.3% from 6.1% and match the worst reading of the decade. And economists all seem to agree the worst is yet to come.
At some point next year the unemployment rate is forecast to pass 7%, a level not seen since 1993.
“Superman couldn’t change what’s in store for the U.S. economy. It’s going to be ugly,” said Rich Yamarone, director of economic research at Argus Research.
It took them less than 24 hours to kill expectations on THE two major policy platforms… Health Care and Jobs.
I wonder what’s next?
Barack Obama is right. Now is the time for change.
The American public rejected the hard right swing that was part and parcel with the Bush Administration and, blinded by rhetoric, swung far to the left… but not the traditional Democratic left. This is a new Democratic Party.
In the wake of this election cycle, people should remember that:
- It was Democrats that voted against GLBT rights in 4 states
- It was Democrats that voted against two very strong and capable women
- It was Democrats that attacked two very strong women with vicious sexism
- It was Democrats that found the attacks on freedom of speech acceptable (truth squads)
- It was Democrats that applauded unfair and unethical election practices (primaries)
- It was Democrats that abandoned campaign finance reform
- It was Democrats that conducted a questionable war on the sanctity of the vote (acorn, ohio)
And also that
- It was evangelicals that failed to come out for the Republican Party
- It was the evangelicals that turned out in higher numbers for the Democrats
No matter what the rhetoric, no matter what the politicians say, the Democratic Party has abandoned two of its’ key constituencies… women and gays. I shudder to thing what will happen when little bites begin to be taken out of Roe v Wade. I no longer have any confidence that the Democratic Party will protect women’s right to choose.
It is time for the Republican party to abandon the Neo-Conservatives. It is time for the Republicans to recapture the center and to become the party of Lincoln, Martin Luther King and Barry Goldwater once again.
It is time to remake the face of the Republican Party as the party of small government, both in business and in our daily lives.
It is time for the Republican Party to become the party of equal rights and freedoms for all.
It is time for the Republican Party to become the party that it once was. The party that fought to give African Americans the right to vote. The party that fought to give women the right to vote. The party that helped the first woman get elected to Congress. The party that fought for the individual against the crushing weight of the society and the government.
It is time for the Republican Party to abandon the path set forth by John Sears and Karl Rove and get back to its’ roots.
I am calling on the Republican Party to abandon the “Religious Right” that abandoned you.
I am calling on the Republican Party to abandon its attack on a woman’s right to choose.
I am calling on the Republican Party to abandon the attacks on the division between church and state.
I am calling on the Republican Party to abandon the injection of religion into social policy
I am calling on the Republican Party to allow people of any race, creed, color or sexual preference to associate in any way they deem appropriate… including marriage.
I am calling on the Republican Party to defend my rights as a citizen to live my life without interference from the government as long as my actions are not harming others.
I am calling on the Republican Party to stop being a RINO and start being Republican once again.
So much for the whole super-bi-partisan thing… this guy is like a friggin drill sergeant.
ABC News has learned that President-elect Obama has offered the White House chief of staff job to Rep. Rahm Emanuel, D-Ill.
Emanuel, a knowledgeable source tells ABC News, has not yet given his answer. The sharp-tongued, sharp-elbowed, keenly intelligent veteran of the Clinton White House is said to have ambitions to some day be Speaker of the House. But he also has a keen sense of “duty.”
Today on “Good Morning America” ABC’s George Stephanopoulos reported Obama likes the fact that Emanuel “knows policy, knows politics, knows Capitol Hill” and has told associates that Emanuel would “have his back.”
There is a tentative plan to announce Obama’s chief of staff this week.
A case of post-election nerves sent stocks lower Wednesday as investors began questioning what impact a Barack Obama presidency will have on business and the overall economy. The Dow Jones industrials fell more than 300 points and the major indexes all fell more than 3 percent.
Stocks fell initially as investors cashed in gains after a six-day run that lifted the Standard & Poor’s 500 index more than 18 percent. The selling picked up momentum as the market began to ponder what an Obama administration might do….
Obama’s victory means that industries such as oil and gas producers, utilities and pharmaceuticals may face greater regulation and even taxes, while labor unions and automakers are expected to benefit.
In addition, banks, insurance companies, hedge funds and the rest of the financial sector will almost certainly face attempts at a regulatory overhaul by the Democratic Congress next year.
The dollar fell against most other major currencies. Gold prices rose.
A measure to once again ban gay marriage in California was passed by voters in Tuesday’s election, throwing into doubt the unions of an estimated 18,000 same-sex couples who wed during the last 4 1/2 months.
The proposition was trailing among white voters, but was ahead among black voters. Latino voters were closely divided.