World-News

Our Future Blog
by Robert Borosage

07/14/10

Voters are in a surly temper. The economy stinks. Jobs are scarce. Wages are under pressure. One in 4 homes with mortgages is underwater. Retirement savings have been butchered; pensions are at risk. Bailed out bankers are paying themselves record bonuses; the oil keeps fouling the Gulf; the jobs aren’t coming back. It is ugly out here. Not surprisingly, faith in Obama is starting to flag. According to a recent Washington Post poll, a startling 58% have only some or no faith that he will make the right decisions about the country’s future. Congressional Democrats fare worse. Republicans would be salivating, only folks overwhelmingly don’t want to rehire them either. A staggering 72% have little or no trust in congressional Republicans on the country’s future. And now the election season starts...

http://tinyurl.com/2dd4zqm



Signs of the times

FreedomPolitics
by Thomas Sowell

07/13/10

If you could spend vast amounts of other people’s money just by saying a few magic words, wouldn’t you be tempted to do it? Barack Obama has spent hundreds of billions of dollars of the taxpayers’ money just by using the magic words ’stimulus’ and ‘jobs.’ It doesn’t matter politically that the stimulus is not actually stimulating and that the unemployment rate remains up near double-digit levels, despite all the spending and all the rhetoric about jobs...

http://tinyurl.com/2bn73z2



A moral abomination

Cato Institute
by Daniel J. Mitchell

07/14/10

Sen. Bob Bennett of Utah and Rep. Bob Inglis of South Carolina were bounced in their Republican primaries in large part because they voted for the Wall Street bailout. It is expected that the list of ‘TARP martyrs’ will become much larger this November as voters have additional opportunities to express their unhappiness about the massive transfer of wealth from taxpayers to poorly run but politically connected financial institutions. Beltway insiders and members of the political establishment are mourning these developments, asserting that the TARP martyrs are noble and courageous officials who did the right thing despite the risk to their careers. The obvious implication is that ordinary voters are a bunch of yokels who did not understand the steps that were needed to rescue the financial system and the economy from collapse...

http://www.cato.org/pub_display.php?pub_id=11983



Obama told lies about bailouts

Nolan Chart
by Walt Thiessen

07/24/10

President Obama on Wednesday signed into law what most major media outlets called the most sweeping financial industry reform legislation since the Great Depression, hailing the reforms as establishing ‘the strongest consumer financial protections in history.’ In actual fact, they failed to report that President Obama, Chris Dodd of Connecticut, who sponsored the bill in the Senate, Barney Frank of Massachusetts, who sponsored the bill in the House of Representatives, Fed Chairman Ben Bernanke, and all the top talking heads of the Obama administration, Wall Street, the major parties, and the media, have all been telling some of the most brazen, most blatant, most bold-faced lies ever told in human history in defense of their new law. Let’s take a moment to examine some of these lies...

http://www.nolanchart.com/article7871.html



Deflation: The blood on Bernanke’s hands

Freedom's Phoenix
by Bill Bonner

08/04/10

As near as we can tell, the Japanese-style correction is still underway. Consumers are careful about spending because they fear they might not have jobs. Employers are careful about hiring because they fear they might not have revenue. And banks are careful about lending because 1) few people want to borrow, and 2) the banks figure they may need the money themselves. Meanwhile, Ben Bernanke has staked his entire reputation on being able to avoid a Japanese-style slump...

http://tinyurl.com/2b9wjp8


Informant: Thomas L. Knapp

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Making Americans Sick
http://www.lewrockwell.com/williams-w/w-williams43.html

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TARP watchdogs reiterate criticisms of mortgage modification efforts

The government's three TARP watchdogs testified before the Senate Finance Committee Wednesday and continued to criticize the government's much-maligned mortgage modification program.

http://bit.ly/behVEV


From Information Clearing House



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