De facto President Obama insists on making the “sequester” hurt as much as possible. Or so he thinks. But one executive, in an industry that takes many government subsidies, doesn’t want any more. In fact, he says the government should get out of the subsidy business. That, he says, would force his industry to concentrate on fundamentals, not on playing political games.
Tag Archives: finance
Cyprus rejects deposit seizure
The parliament of Cyprus today said a big ΟΧΙ! – Ochi! – NO! – to the European Union’s demand to tax bank demand deposits for tribute. But by even thinking of such a step, the EU and the government of Cyprus have done damage neither side can repair. They have broken faith with every man, woman and child who has “money in the bank,” whether that bank be in Cyprus, or elsewhere in Europe, or here in the United States of America.
Cyprus – canary in the mine
Cyprus has a long and troubled history – pawn in war for thousands of years, divided to this day between Greece and Turkey. Today, like a canary in a coal mine, Cyprus signals the total economic and social collapse that threatens all Western economies, This should surprise no one.
Sequestration: more lies-deception-corruption from Obama
As March 1st looms closer and closer and the dreaded automatic government spending cuts (Sequestration) begin to kick in, the fear mongering, the deception and the out an out lies smothering the American people like swamp swill are beginning to reach a crescendo.
Fiscal Cliff: more lies, taxes and recession
Congress did not avert the “fiscal cliff.” This government went over that cliff long ago. The numbers, when you read them, tell the tale.
Compromise – a poor excuse for lack of leadership
While on the campaign trail last year with a friend, his opponent made it clear that he was a man that could reach across the aisle and compromise. Thereafter, a tea party leader in the room commented: “You mean like John McCain?” The tea party leader meant it facetiously and sadly the candidate was obviously befuddled by the remark – believing his propensity to compromise was a badge of honor. My friend humorously remarked:
Taxation without representation in 2012
Taxation without representation isn’t a new phrase. It’s one we usually associate with the Revolutionary War. However, in 2012, it may be time to start shouting this protest phrase once again. As is the case with the recent Tea Parties, which derive their name from our founders’ protest against high tea taxes levied by England, some things old seem to be new again. And – as was the case prior to the Revolutionary War – the people living on this continent in this country once again suffer taxation without representation. This time, however, is more insidious since we all erroneously believe that we do have representation in the form of elected officials. But do we?
The Givers and the Getters
Recently I watched an episode of “Property Virgins” on HGTV. Who would ever think that such a program would inspire a political commentary? And yet, that’s exactly what it did. It forced me to re-label the common liberal phrase “The Haves and the Have-Nots” to “The Givers and the Getters.”
Credit rating: another US downgrade
A credit rating agency that no one notices, downgraded US treasury securities again. They had already downgraded American bonds to AA. The new rating is AA-, the lowest rating that the American public debt has ever carried.
Quantitative Easing: Theft!
Ben Bernanke, head of the Federal Reserve, announced another round of “quantitative easing” yesterday. The Fed will buy $40 billion worth of mortgage-backed bonds every month, until further notice. When he said that, stocks and commodities (including oil and precious metals) both rose in price. Bonds, especially the longer-term bonds, went down, and their yields went up. This “quantitative easing” program will not and cannot add more wealth to the economy. Instead it will steal a lot of wealth, mainly from the poor and especially the middle class, for the temporary benefit of stock investors.
