On the Campaign Trail while Rome Burns - image itmakesseneseblog
Bloomberg:in a nutshell, President Obama’s talking points on the recently downgraded rating by the S&P, is that there is nothing to see here…move along folks. He is downplaying an entity that is, in a word, able to influence markets not only in the U.S., but globally as well. The crux of the matter is that we have no obvious ability to get our financial house in order. The U.S., heading towards a Presidential Contest in 2012, has the President on the Campaign Trail. In order to satisfy his base, and get the cash necessary to continue, at least part of his 2008 media spending frenzy, the President must insult the Republicans. That’s the way it works, although one might wonder why he would bother to come out so early, given that the chance of anyone challenging him from within his own party is nil. It is also questionable, depending on the poll, if he even stands a chance to be reelected, given his track record a la Jimmy Carter, do donors really want to part with hard earned cash to finance a losing campaign? It’s early in the election cycle, if this were 2004, or 2000, even, that long ago, announcements were not made until mid-summer of the prior year. George W. Bush went on to announce in late August of 1999, not February or March or April of that year, and debates were held in October, not May. Therefore, if any one “team” needs to get on the stick so to speak, it would be Republican’s who need to raise funds for an election this early, not the President.
So, he dismisses those who would cut taxes, and talk’s red meat on a variety of stops, and then the President wonders why the S&P believes that nothing will change within our government to work towards reducing the deficit! They’ve noted that this “rating” may hold until 2013 (or when the post election dust settles).
How this effects Joe and Jane taxpayer – if you work for a private sector employer, you may have a 401K, that 401K is most likely vested in the stock market (at least in part) and with a lower confidence level on wall street, one might see losses in one’s 401K (or retirement) – which with Social Security not so secure, it is irresponsible for those who want to dish out red meat to their base, to do so until they can reach some sort of compromise at the very least and move our economy forwards.
(Just a note: most pension plans, public and private, have investments in Wall Street, and if the market does poorly, so do those who have pension plans they hope to utilize someday.)
Time to scale back the rhetoric.
The Chinese (or China’s government) weighed in with agreement on the S&P’s decision, noting that it was mostly symbolic and that they did not believe the S&P would actually go further, (WSJ), however, there’s more to the way the U.S. Dollar is seen in terms of those involved in “China’s Wall street”:
(Source: WSJ article
"The fundamentals of the U.S. economy do not support an AAA rating... the U.S.'s actual debt repayment ability has already collapsed," Dagong Chairman Guan Jianzhong told Dow Jones Newswires in an interview.
Dagong cut its rating on the U.S. in November last year to A+ from AA, with a negative outlook.
"We will consider a further downgrade the U.S. rating, as the economy hasn't shown any sign of improvement in its fundamentals," Guan said.
Guan said the U.S has already infringed on the interest of creditors with its policy of quantitative easing launched last year, which has caused the U.S. dollar to depreciate.”
Therefore, the Chinese have already decided the U.S. was not credit worthy, and our dollar is worth less on the global scale, as well as your pensions or modest savings, while Obama is on the Camping Trail, proverbial Rome burns. Get the man a fiddle.
If their time between golf games, vacations and campaign stops for the current occupant of the White House to actually work (with Republican fiscal conservatives) and hammer out some type of beget that would address the deficit, not raise taxes on those left to pay them, and find untold billions in waste, already found?
Absolutely, It takes a big man, and/or woman, (It’s been 3 am and the phones been ringing since 2009), to walk across the aisle and seriously listen to the other side in order to accomplish jack. Ever hopeful and optimistic that , although not a fan, that those we, the people, elected to do a job, stop the insipid bickering and make a few deals to get the nation back on track before more trucks carrying meat are hijacked!. (WTVY) It is the explosion of Carter Era, meat out of a trunk of a car, sales, that indicate the level of working poverty in the US. – Without an EBT Card (welfare) those that can no longer afford food (with the inflation on food and fuel, the U.S. Government insists is not a problem), will be able to buy “stolen meat”. The risks are obvious.
Therefore, all of them, need to get off their lofty high horses, and make some real improvement in whichever version of a budget that the White House care to dream up next – and as to those in the Congress who want the cuts, well, they should be listened to: Women will not die, The world will not end, if cuts to certain social programs are cut – especially when those organizations (i.e. Planned Parenthood), have sufficient donors, as well as the ability to accept insurance to cover costs. It’s all about politics and that has to stop – scarring defenseless leftist who cling bitterly to their abortion and whatever medication gets them through the night, as well as the elderly – (which is perhaps, the most egregious of practices by those in a certain party who feel that they own the elderly vote, (as well as the African-American, Catholic, Hispanic, and the all important, especially in close races, dead and missing vote) - They need only to refer to History!!! For one or anyone, that had lived through the 1970’s to 1979 (pre-Reagan), it is in jaw dropping amazement that one sees an administration as well as counterparts in Congress and the Senate, with the help of some of those in the Republican Party, to ignore the outcomes that resulted from the same nonsensical programs, and yet, they go ahead and just play dumb – as if the nation hasn’t seen this before.
So, to all of those sitting in the hallowed news booths of MSNBC, or pick a network, or print piece, that wonders out loud, and with much insult, how any one of the present GOP crop of non-political “presidential contenders” – could possibly be taken seriously by the American People, they obviously understand history all too well, which explains the vitriol towards two of the “outsiders” in particular, and anyone who dares to get close to stepping outside the “beltway” and go over to the dark side of speaking one’s mind and calling it the way most of the people see it.
A spate of recent remarks by pundits, Karl Rove, who is as relevant as yesterday’s news, dismissed both Donald Trump and previously Sarah Palin as unelectable; it keeps Rove in the Spotlight. Club for Growth feels the Donald (or anyone but Mitt Romney – see attacks on Huckabee in 2008 and whence they came from), is at it again. Those two entities are what the left press and White House are now using as “absolute proof” that neither Trump nor Palin, and wait, they haven’t gone after Huckabee in truth yet, will never best “Obama”. Maybe not in the beltway, but in (if using Gallop and Obama’s stellar approval ratings from last year (before stolen meat and S&P), 40 of the 50 states should go the way of whoever steps up to the plate, and offers the public more than they’ve been given in the past 3 years, and it is not about Federal Aid.
Can the President and Congress (Senate included), get their act together in a timely fashion in order to save all their jobs, and, which should be most important the nation and one’s 401K or pension? There is some time, but the clock is ticking. When those who have been fence sitting, (due to network contracts) finally decide to run or not to run, then all bets are off – should it appear that one of those who jumps off the fence resonates with American voters, despite gender, hair, or a penchant to preach on occasion, and should one of those show stellar poll numbers in 2012 from August forward, Wall Street and the World will react and that as well, is historical. When it looks as if someone is willing to do something to save the U.S. Economy, Wall Street reacts in the positive, when it appears someone who is clueless is about to take the reins , it reacts in the negative (just Google Wall Street Trends prior to the last 10 general elections, and a pattern emerges.). Can the public wait for recovery until such time? Of course, American’s are resilient and although the Dead May Vote, and the majority of Catholics, will cast their ballots for the Democrats, World Peace and yes, Planned Parenthood, it will not be enough to save the jobs, of those who failed to dare to be different, follow historical patters instead of pre-conceived ideology and difficult as it may be – reach across the aisle and do something positive.
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