ARC's 1st Law: As a "progressive" online discussion grows longer, the probability of a nefarious reference to Karl Rove approaches one

Friday, September 19, 2008

Obamessiah Talks About Jobs...

Like "Paying Your Bills, Buying Groceries, Making Dinner, Doing the laundry," etc, etc.

I wanted to highlight this video showing Obama being protested by African-Americans against Barry for two reasons:

  1. Obama can get knocked completely off his game when he's not at the teleprompter. Notice how people are yelling and he tries to keep talking through the speech... this isn't effective and shows that he's not as talented as many think he is. Perhaps the network news guys love Obama because he can read a prompter just as well as he can; but they also know that when the prompter dies or when they are distracted by something, they look like idiots
  2. More laughably, Obama talks about how hard Americans work, using the same old tired stories about people working longer hours, working 5 jobs each day, and getting paid less for all of those efforts. But then Barry goes on to begin discussing the "other jobs" that people do each day, like cleaning their house, paying their bills, etc, etc. I'm sorry, but household chores in the modern era have never been easier and is Barry going to alleviate these daily tasks for us? Or is he merely "feeling our pain" and trying to connect? I wonder how many chores Barry does around his house in Chicago (purchased with the help of his buddy, Tony Rezko).

    Perhaps these are those that Jobs Americans Won't DoTM?

And after the protesters are escorted out, what does The Obamessiah say? "Let's get back to work!" and the crowd cheers.

Of course, reading a teleprompter isn't exactly "work" to most people... it's called reading. It's interesting that Barry chose that phrase when he just finished talking about how much work people have to do to "just get by."

Your Co-Conspirator,
ARC: St Wendeler

Memo to Biden on Patriotism

Hey, Joe... saw you on GMA the other day make this completely asinine statement:

Biden: There’s a fundamental philosophy difference here. Take a look. We want to take money and put it back in the pocket of middle class people.
It’s time to be patriotic, Kate. Time to jump in. Time to be part of the deal. Time to help America get out of the rut.

You know what would be really patriotic?

For America's elected leaders to stop spending America's hard-earned money like some drunk teenager in a Tijuana bar.

Joe - The top 1% of America's earners pay 40% of all federal revenues.

I hate to say it, but they've "jumped in" with concrete galoshes.

They're "part of the deal" whether they want to be or not.

The problem is that those very same people are sending their cash to D.C., you guys aren't using it to "help America get out of the rut."

No, you're taking that money and blowing it on pet political projects, continuing some ponzi scheme of a retirement program, and trying to become the nations health care provider.

Andrew "I'm a conservative, really... really, I am!!!" Sullivan ridiculously defends Biden here.

Memo to Joe Biden - You Just Don't Get It.

It's good to see that the McCain campaign has come out with an ad about your idiotic patriotism:

P.S. I'd also point out the fact that it'd be patriotic for you to send a little more of your taxpayer funded income to charity, but that obviously isn't something you're going to do anytime soon given the shallowness of your character.

Your Co-Conspirator,
ARC: St Wendeler

WaPo - Our Reporting on Franklin Raines & Obama is Flimsy

Michael Dobbs at The Washington Post actually writes the following when fact-checking the new McCain ad about Obama's ties to politically connected Fannie Mae exec Franklin Raines:

The Facts

The McCain video attempts to link Obama to Franklin Raines, the former CEO of the bankrupt mortgage giant, Fannie Mae, who also happens to be African-American. It then shows a photograph of an elderly white woman taxpayer who has supposedly been "stuck with the bill" as a result of the "extensive financial fraud" at Fannie Mae.
So what evidence does the McCain campaign have for the supposed Obama-Raines connection? It is pretty flimsy, but it is not made up completely out of whole cloth. McCain spokesman Brian Rogers points to three items in the Washington Post in July and August. It turns out that the three items (including an editorial) all rely on the same single conversation, between Raines and a Washington Post reporter, Anita Huslin, who wrote a Style section profile of the discredited Fannie Mae boss that appeared on July 16. The profile reported that Raines, who retired from Fannie Mae four years ago, had "taken calls from Barack Obama's presidential campaign seeking his advice on mortgage and housing policy matters."

"Pretty Flimsy?" Let's look at the text from the ad about Obama getting advice from Raines on mortgage and housing policy matters:
The Post says it's Franklin Raines, for "advice on mortgage and housing policy."

So the Post is telling us to not to trust their own reporting. Instead, we're supposed to trust a guy who oversaw a company that committed major financial fraud, all under the watchful eyes of Senator Chris Dodd and Barry Obama.

Biased? Partisan?

nah... nuance. context. framework.

No word on the WaPo's fact check regarding the Johnson ad. No doubt they'll say that he really didn't have that much to do with Obama's Vice Presidential selection process.

Your Co-Conspirator,
ARC: St Wendeler

New SEC Mandate - Stocks Will Only Go up


SEC bans short-selling for financials
Friday September 19, 7:07 am ET
By David Goldman, staff writer

The U.S. Securities and Exchange Commission took what it called "emergency action" on Friday and temporarily banned investors from making profits in specific financial companies.

The temporary ban, aimed at helping restore falling stock prices that have shattered confidence in the financial markets, takes effect immediately.

Short sellers borrow stock with the aim of selling it, then buy it back at a lower price, hoping to pocket the difference. The commission said short sellers add liquidity to the markets during normal conditions, but recent unbridled short selling has contributed to the recent tailspin in the stock market.

Let me rewrite the headline so it reflects the truth of the situation:
SEC Regulation Stipulates that Stocks Can Only Increase
Friday September 19, 7:07 am ET
By St Wendeler, Another Rovian Conspiracy Co-Conspirator

Capitalism is dead. Selectively eliminating short-selling - a valid financial trade if there ever was one - is absolutely asinine and something I would expect Hugo Chavez's Venezuela to do - not the United States of America.

Long live the socialist utopia brought to us by people who don't understand the free market and either pay lip service to it or actively seek to eliminate it (the Obamessiah).

Bill O'Reilly, one of the biggest pinheads on this issue, has no @@#$5ing clue about capitalism, financial markets, or what speculation actually is. He's been a disgrace to free market principles for the past few years when attacking oil speculators, short sellers, etc.

Where are the oil speculators now, Billy-boy?

And it's sad to see John McCain take on the same line of attack against "speculators" and short-sellers. From the WSJ today:
But regular short selling is not fraud. It adds valuable information to the market about what investors believe to be the price direction of a stock. Demonizing short-sellers as a band of criminals, or barring short-selling outright in financial stocks, as regulators in the U.K. did Thursday, removes information from the market.
While he was at it, Mr. McCain added the wholly unsupported assertion that "speculators pounded the shares of even good companies into the ground." It wasn't very long ago that he blamed speculators on the long side for sky-high oil prices. Then oil prices fell. Now Mr. McCain wants voters to believe speculators are responsible for driving mismanaged financial companies to ruin. The irony is that this critique puts Mr. McCain in the same camp as some of the Wall Street CEOs who have led their firms so poorly. They also want someone (else) to blame.

In case Mr. McCain is interested, overall short interest in financial companies actually declined by 20% between July and the end of August. That's right: Far from driving this crisis, shorts were net buyers of financial stocks this summer, as they must buy stocks back to close their positions and realize their gains (or losses).

In a crisis, voters want steady, calm leadership, not easy, misleading answers that will do nothing to help. Mr. McCain is sounding like a candidate searching for a political foil rather than a genuine solution. He'll never beat Mr. Obama by running as an angry populist like Al Gore, circa 2000.

It's the age of unreason...

Your Co-Conspirator,
ARC: St Wendeler

Thursday, September 18, 2008

Obamessiah - Piggy at the Trough of the Credit Crunch

Ace of Spades shows this excellent video which shows that Obama was a pig at the trough of political contributions from the culprits behind the credit crunch.

This is a must watch video and needs to be made into an ad by the McCain campaign.

Your Co-Conspirator,
ARC: St Wendeler

Roots of the Credit Mess

What has happened in our capital markets probably meets the definition of a crisis, and when I typed to title above it originally read "Roots of the Credit Crisis." I immediately struck the word "crisis." It is a miserably overused word ranging from the highly debatable "climate crisis" to the "health care crisis." The word has lost all meaning. So I chose to call it a "mess." The situation meets the definition of that word too.

For months I have been harping on what is going on in the housing sector. It was clear that the bubble where housing has been inflating at 20% a year was going to have serious consequences when it finally burst. Houses were going to be of lesser value than the mortgages on those houses, at least for homes bought and sold in the last few years. That was not going to look good on the balance sheets of either the home owner or the banks that held those mortgages.

That was problem enough. But it was a problem we have been through before. Booms and busts are not unheard of and they usually do not take down Wall Street.

But to this was added a huge market distortion. Some geniuses in Congress and elsewhere thought it would be just a marvelous idea to extend "The American Dream" of home ownership to just about everyone regardless of whether "everyone" could afford a home. Loans were written on preposterous terms. Income and credit worthiness were secondary concerns if concerns at all.

Then there was The Fed. Interest rates were kept too low too long. Money was, and is, cheap (ignoring for the moment whether you can get it at all just now). Money chased money and housing prices soared as people perpetually bid against one another to get houses. "Flipping" entered the language as people bought and sold in an orgy of speculation fueled by cheap money and soaring prices.

Countrywide and their ilk merrily wrote these loans. Then they bundled them and sold them into the secondary market to folks like Lehman Brothers about whom we have been hearing a bit of news of late.

Then there our friends at Fannie Mae and Freddie Mac, see "geniuses" and "American Dream" above. Add to that a dash of good old fashioned corruption, as they cooked the books to show impossible profits and their managers walked away with incredible bonuses based on those bogus profits. (Walked where? You might check to see who some of the "economic advisors" to the Obama campaign are.)

The handwriting has been on the wall for at least two years. The Bush administration has done nothing about this. McCain, to his credit, tried to do something about this in 2005 only to meet resistance from the Democrats and some Republicans.

So, now we are in the "mess." No doubt the politicians will meddle and only succeed in slowing down the market correction that is inevitable and thus putting off the equally inevitable return to equilibrium.

My hope is that we will have learned something from all this. No more idealistic dreams of extending The American Dream. no more ridiculous and artificial market distortions.

But given that this is an election year, and the foxes are in charge of the henhouse over at the Obama campaign, I rather doubt it.

Your Co-Conspirator,
ARC: MontereyJohn

Tuesday, September 16, 2008

Obamessiah Unplugged

Want some laughs? Here's the exalted Obamessiah performing without a teleprompter:

This is a total sham campaign. Obama doesn't even know what the hell he's talking about as the words come out of his mouth.

*** UPDATE ***
Mark Steyn wonders whether they'll allow Barry to have a teleprompter at his summit with President Achmidenijad.


Your Co-Conspirator,
ARC: St Wendeler

Live in the Northwest? You're a Nutjob Unfit for Elected Office

Unbelievable Opinion piece in the Philadelphia Inquirer on Sunday. Catherine McNicol Stock, Professor and Department Chair of History (!!!) at Connecticut College (feel free to email her here) provides the following hyperbolic accusations against Sarah Palin:

Intolerance thrives in Palin's Pacific Northwest
It has been years since groups such as the Montana Militia, the Posse Comitatus and the Sagebrush Rebels, and individuals such as Terry Nichols and Ted Kaczynski have made us wonder why so many "angry white men" populated our rural regions. Many of us have forgotten the threat once posed by domestic terrorists and instead have turned our attention to foreign terrorists. But we should never forget that in the late 20th century, ultra-Christian, antistatist and white-supremacist groups flourished in the states of the Pacific Northwest - called by many the "Great White Northwest" - the very region that Sarah Palin and her family call home.
But the region also must be defined by its history of intolerance, resentment, antistatism and violence. Appearing in the region in the 1980s and 1990s were some of the most notorious "hate radicals" of our time: militia groups, survivalists, Identity Christians, secessionists, white supremacists and others.

Some simply hated the federal government, like Randy Weaver of Ruby Ridge, Idaho, a survivalist whose wife and child died when their compound was fired upon by FBI agents attempting to arrest him on gun charges. "Whether we live or whether we die," Weaver said, "we will not obey this lawless government."

Other groups, like the Aryan Nation, with headquarters in Hayden Lake, Idaho, actively planned to rid the United States of African Americans, Jews, and other "non-Aryan" peoples. A few carried out their plans, murdering Jewish radio host Alan Berg in Denver, the Goldmark family in Seattle, an African American state trooper in Arkansas, Fish and Wildlife officials and FBI agents in Wyoming, North Dakota and Montana, and more than 160 federal employees and their children in Oklahoma City.

First, let me point out that Alan Berg was killed in 1984... that was 24 years ago, people.... to assert that the murder of Alan Berg in 1984 was at that time indicative of the attitudes of people in the Pacific Northwest in 1984 is a stretch - and to extend that to the Pac-NW today is even more ridiculous.

The Goldmark family was killed by a drifer in Seattle - in 1986.

Tying Palin to the Oklahoma City bombings is equally ridiculous.

Which Catherine must recognize because in the very next paragraph she writes the following:
There is no evidence that Palin was ever affiliated with white-supremacist groups during her years in Idaho or at home in Alaska.

So what is your @!#$ing point, Catherine?

I could make a more plausible and justifiable connection between Barry Obama and unrepentent left-wing terrorists from the 60s, as well as terrorist sympathizers in the Middle East.

Trust me, you don't want to go here.

After Catherine says there this is no connection between Palin and these events, she attempts to connect her to them because of her faith and her geographic location:
On the other hand, the beliefs of ultraconservative, evangelical churches like her family's come dangerously close to those of the Christian Identity movement of those years. Likewise, Palin's husband was a member of a political party whose members favored secession for Alaska, suggesting an affiliation with radical antistatism.

dangerously close? I don't think so, sweety. You're pathetic.

Your Co-Conspirator,
ARC: St Wendeler