Friday, April 29, 2011

Accomplishments of the Obamaphate: Yet Another Record Price for Gold

BOTUS has proved that his Columbia and Harvard degrees have been worth alot ... to George Soros .... and China.

Ben's Quantitative Easing 2 and Barack's wildly reckless debt accumulation have together pushed gold to new highs....

Anyone up for a friendly (no money) wager on when it will hit $1,600/OzT?





Chart Source: Kitco.com

And, from today's Financial Times:

Gold surges to all-time price record

By Telis Demos in New York

Published: April 26 2011 05:07 | Last updated: April 29 2011 21:45

UPDATE: 21.30 BST. The price of gold surged some $30 on Friday, capping a week of gains as investors bet that the world’s central banks would keep pumping money into the world economy for the time being.

An ounce of gold hit a high of $1,569.30, rising 2 per cent in the the biggest one-day percentage gain since December, as investors rushed to protect themselves against the rapidly falling value of the dollar....

Click the linked title above to read the whole disturbing story.

More Horse Mess from The Obamaphate: "Dick" Blumenthal calls for gas price investigations

UPDATED below

Erstwhile Connecticut A.G., current U.S. Senator from the same state, and total stranger to the truth, Richard "Dick" Blumenthal calls for investigations into soaring gas prices, citing illegal speculation by investors and hedge funds.

Not surprising I suppose that this fully paid-up member of the District of Columbia League of Economic Morons is unable to grasp the real sources behind soaring petroleum prices.

In the spirit of bi-partisanship, I offer the following accurate road map for where any investigation should begin:

Investigate Barack Obama who shut down Gulf of Mexico Drilling yanking 3 million barrels of oil a day from the world market and who continues to spend money we don't have at a hallucinatory rate.

Investigate Hillary Clinton the incompetent Secretary of State who's management of U.S. foreign affairs vis-a-vis the oil producing regions led to our federal government getting caught with its pants around its ankles, kinda like husband Bill.

Investigate Ben Bernake who's insane pursuit of Quantitative Easing a/k/a money printing (presently in version 2.0) is debasing the currency, which in turn drives up the price of petroleum and all other dollar priced commodities.

Yeah, that'll happen....

UPDATE I: Fellow Connecticut blogger Don Pesci also writes about DICK Blumenthal's obeisance to the machinations of the Obamaphate at his blog Connecticut Commentary: Red Notes from a Blue State.

UPDATE II: Similarly, more discussion can be found on the domestically disastrous effects of the Federal Reserve Banks policy of shredding the value of the currency at Can we keep our Republic?

News From the Obamaphate: ACHTUNG; Reporters, You VILL OBEY Me!

H/T Drudge:

From SFGate, the San Francisco Chronicle's website, comes this story of a snarling spoiled brat administration enraged that things aren't going its way, and taking its frustration out on the first available target for what was a non-event.

Whould'a thunk that Barack Obama is really just a thin-skinned retributive narcissist?

The story, in pertinent part, follows below, or click the linked title to get to the source page:

Obama Administration punishes reporter for using multimedia

By Phil Bronstein
April 28 2011 at 04:48 PM

The hip, transparent and social media-loving Obama administration is showing its analog roots. And maybe even some hypocrisy highlights.

White House officials have banished one of the best political reporters in the country from the approved pool of journalists covering presidential visits to the Bay Area for using now-standard multimedia tools to gather the news.

The Chronicle's Carla Marinucci - who, like many contemporary reporters, has a phone with video capabilities on her at all times - pulled out a small video camera last week and shot some protesters interrupting an Obama fundraiser at the St. Regis Hotel.

She was part of a "print pool" - a limited number of journalists at an event who represent their bigger hoard colleagues - which White House press officials still refer to quaintly as "pen and pad" reporting.

But that's a pretty Flintstones concept of journalism for an administration that presents itself as the Jetsons. Video is every bit a part of any journalist's tool kit these days as a functioning pen that doesn't leak through your pocket.

.......

So what's up with the White House? We can't say because neither Press Secretary Jay Carney nor anyone from his staff would speak on the record.

Other sources confirmed that Carla was vanquished, including Chronicle editor Ward Bushee, who said he was "informed that Carla was removed as a pool reporter." Which shouldn't be a secret in any case because it's a fact that affects the newsgathering of our largest regional paper (and sfgate)and how local citizens get their information.

What's worse: more than a few journalists familiar with this story are aware of some implied threats from the White House of additional and wider punishment if Carla's spanking became public. Really? That's a heavy hand usually reserved for places other than the land of the free.

But bravery is a challenge, in particular for White House correspondents, most of whom are seasoned and capable journalists. They live a little bit in a gilded cage where they have access to the most powerful man in the world but must obey the rules whether they make sense or not.

CBS News reporter, Mark Knoller, has publicly protested the limited press access to Obama fundraisers, calling the policy "inconsistent." "It's no way to do business," wrote Politico's Julie Mason, "especially [for] a candidate who prides himself on transparency."

A 2009 blog by the White House Director of New Media states that "President Obama is committed to making his administration the most open and transparent in history."

Not last week.

Mason referred to the San Francisco St. Regis protest as "a highly newsworthy event" where "reporters had to rely on written pool reports..."

Except, thanks to Carla's quick action with her camera, they didn't.

I get that all powerful people and institutions want to control their image and their message. That's part of their job, to create a mythology that allows them to continue being powerful.

But part of the press' job is to do the opposite, to strip away the cloaks and veneers. By banning her, and by not acknowledging how contemporary media works, the White House did not just put Carla in a cage but more like one of those stifling pens reserved for calves on their way to being veal.

Carla cannot do her job to the best of her ability if she can't use all the tools available to her as a journalist. The public still sees the videos posted by protesters and other St. Regis attendees, because the technology is ubiquitous. But the Obama Administration apparently wants to give the distinct advantage to citizen witnesses at the expense of professionals.

Why? Well, they won't tell us.

Some White House reporters are grumbling almost as much as the Administration about Carla's "breaking the rules." I can understand how they'd be irritated. If you didn't get the video because you understood you weren't supposed to, why should someone else get it who isn't following the longstanding civilized table manners?

The White House Press Correspondents' Association pool reporting guidelines warn about "no hoarding" of information and also say, "pool reports must be filed before any online story or blog." While uploading her video probably was the best way to file her report, Carla may have technically busted the letter of that law.

But the guidelines also say, "Print poolers can snap pictures or take video. They are not obliged to share these pictures...but can make them available if they so choose."

Then what guidelines is the White House applying here? Again, we don't know.

What the Administration should have done is to use this incident to precipitate a reasonable conversation about changing their 1950's policies into rules more suited to 2011. Dwight Eisenhower was the last President who let some new media air into the room when he lifted the ban on cameras at press conferences in 1952.

"We've come full circle here," Tom Rosenstiel, director of the Pew Foundation's Project for Excellence in Journalism told me today. "A newspaper reporter is being punished because she took pictures with a moving camera. We live in a world where there are no longer distinctions. The White House is trying to live by 20th century distinctions."

The President's practice not just with transparency but in other dealings with the press has not been tracking his words, despite the cool glamour and easy conversation that makes him seem so much more open than the last guy.

It was his administration that decided to go after New York Times reporter James Risen to get at his source in a book he wrote about the CIA. For us here in SF who went through the BALCO case and other fisticuffs with the George W. Bush Attorney General's prosecutors, this is deja vu.

Late today, there were hints that the White House might be backing off the Carla Fatwa.

Barack Obama sold himself successfully as a fresh wind for the 21st century. In important matters of communication, technology, openness and the press, it's not too late for him to demonstrate that.

Wednesday, April 27, 2011

News From The Obamaphate: I was Born in Hawaii, and Here's the Proof...

Thank God that the birther stupidity is over with!

To his credit, Obama today finally released his long form
Certificate of Live Birth, proving indisputably that he was born in the United States.

By settling this matter definitively, the President has given our side a gift of immeasurable value:

We may now focus exclusively on the terrible destructive consequences of his incoherent foreign, economic and fiscal policies without the distraction of fringe element fantasies.

Now, lets take him down on the issues!

Reaching the same conclusion:
Yid With Lid

The Other McCain

Wednesday, April 20, 2011

News From The Obamaphate: Gold Crests $1500/OzT

Today, April 20th, 2011 gold crossed the psychological resistance barrier of $1500 per Troy Ounce. Will it stay there? Who knows...

What is certain is that worldwide governments and people who still have enough money to buy the shiny stuff have voted with their feet to abandon more conventional investments for the perceived safe harbor of gold as BOTUS and his giddy Ivy League minions fiddle while Washington burns out the motors and electronics of its money printing machines.

ASSWIPES!Italic

From Kitco.com as of today 10:24:39 Hrs at New York



Tuesday, April 19, 2011

What Goes Around Comes Around..... Note to Richard Brodhead: Karma can be a real BITCH!

Duke lacrosse accuser charged with murder
MIKE BAKER
From Associated Press
April 19, 2011 7:32 AM EDT

RALEIGH, N.C. (AP) — A murder charge against the woman who falsely accused three Duke lacrosse players of raping her is but the latest problem for a woman friends say is still haunted by the stigma of the lacrosse case.

Thirty-two-year-old Crystal Mangum was indicted Monday on a charge of first-degree murder and two counts of larceny. She has been in jail since April 3, when police charged her with assault in the stabbing of her boyfriend 46-year-old Reginald Daye. He died after nearly two weeks at a hospital.

....

Friends say Mangum has never recovered from the stigma brought by the lacrosse case and has been involved in a string of questionable relationships in an attempt to provide stability for her children.

Whiskey Tango Foxtrot ???

Despite the AP's spin on this story to engender sympathy for Mangum, I don't feel sorry for her at all. Maybe, with a little luck, her kids will have a minute chance at a normal life.

So, there we have it:

Two down:

Mike Nifong; Chrystal Mangum

One to go:

Richard Brodhead


Friday, April 15, 2011

News from the Obamaphate: New Rap Video - "Feeling You Up So You Feel Safe"

Wes Messamore, brilliant and multi-talented writer of The Humble Libertarian has composed a Rap Video about the TSA and features all the usual suspects and their BS excuses on why the government must sexually assault the citizenry. Peeps, make this go VIRAL:


News for the Obamaphate: BOTUS Bitch-slapped....

Porter Stansberry has written a semi-open letter to the President. It contains a harsh but entirely deserved dark assessment of the President's policy and performance.

So without further delay,

Dear Mr. President,

Welcome to the ashbin of history.

With the speech you gave this week, you have firmly and permanently put yourself in the same garbage bag as all the other communists and socialists of the 20th century.

Your speech sounded like the faint echo of a speech Lenin gave in an icy square in Moscow 100 years ago.

The promises you made, Mr. President, about the government giving people things they can't provide for themselves – a better income, reliable health care, an advanced education, cheaper mortgages, a "shiny, happy" life – have been made time and time again… sometimes by speakers even better than you.

And they have always been lies.

While the government can demand obedience (and taxes), it can't mandate dedication, creativity, or innovation. The fact is, the government itself is nothing more (or less) than the organized ambitions of the people. Promising something to the people that they don't already have is a logical absurdity. And therein lies the timeless flaw of all collectivist theory: Governments cannot deliver benefits to the people that the people cannot deliver to themselves.

To demonstrate this truth, consider this example… Governments cannot simply mandate higher tax revenue. Any substantial increase to tax rates will reduce total collections, an economic phenomenon known as the "Laffer Curve." This has been proven countless times in our country and many others. Any sensible person will immediately understand why. Taxes are a disincentive. The higher the marginal rate of tax, the more powerful its impact.

That's why, over many decades (and many different tax structures), U.S. tax revenues have been remarkably stable at around 20% of GDP. That's why, as you surely know, Mr. President, changing the tax code will not result in increased tax revenue. Taxing only the rich simply doesn't work. It never has. And it never will. To increase the government's revenues, we must first increase the size of the economy. The government cannot tax what the economy doesn't produce.

In another time, most Americans might have simply ignored your speech as the ignorant remarks of yet another handsome, Ivy League-educated, dilettante president. But at this point in our history, my bet is people are going to take you far more seriously than you expect. In fact, I think you're going to get what you deserve – the trash heap. Why will Americans turn on you so rapidly and so completely?

Two things have changed – forever – about American politics.

The first is the media and access to critical information. It's no longer possible for a president's administration to control what people read, see, and think by simply managing the evening news broadcasts.

Thus, all your lies are now exposed almost instantly and broadcast to millions of people via websites and services like the Drudge Report, Twitter, and Facebook. Socialism cannot possibly survive over any long period of time in a society with a free media – because socialism is based on a lie. Facebook means the "half-life" of socialism is now weeks instead of years. Even mainstream publications like the Wall Street Journal have called you a liar this week. They have no choice. Your lies were broadcast to the entire world long before their op-ed pieces appeared.

Your advisors told you none of these "bloggers" mattered. All you had to do was promise more benefits to more voters and then force fewer voters to pay for it all. I'm sure you did the political calculus… You believed your power to bribe and bamboozle the poor and the ignorant was stronger than the resentment you'd engender among the "rich." And I must admit… since at least World War II, that's been a safe bet in American politics.

But you forgot one critical factor: We simply can't afford this nonsense anymore…

Immediately after your speech, the price of silver went from $39 to a new high above $42. Gold went up, too.

These are signs, Mr. President, that the world is losing confidence in our currency. If our foreign creditors were to call in our debts, America would suffer an economic cataclysm unlike anything we've ever seen in our entire history. Americans now owe a total of $56 trillion. Without the Fed's money-printing, it's unlikely we could afford even the interest on these existing debts… much less the $1.5 trillion or more in debt you continue to rack up year after year by promising benefits we haven't earned.

Sooner or later, our foreign creditors are going to decide our money-printing amounts to a default, and they will stop buying our bonds. On that day, everyone who trusts you, everyone who believes in your lies, will be wiped out.

But that won't be as many people as you expect.

Almost every American knows in his heart what made this country great for the 200 years between 1776 and 1976. It wasn't the lies of our presidents. It wasn't our ability to print money and rip off our Chinese creditors. It wasn't the modern crybaby mentality of our school system or our unions. It wasn't the baby boomer's dream of a 40-year retirement with free prescription drugs. And it sure as hell wasn't a suave, made-for-TV version of Karl Marx promising everything to everyone, but with no way to pay for it.

No. What built America was her people's unwavering faith that they were free to enjoy the rewards of their accomplishments.

As our country tumbles into bankruptcy and crisis, the people are going to want their prosperity back, Mr. President. And deep down, they all know… even your most fervent supporters know… you don't have the goods. You don't have the foggiest idea of how to deliver prosperity to America because, really, you don't know anything of what America is all about.

Regards,
Porter Stansberry

Thursday, April 14, 2011

News from the Obamaphate: A TURNING POINT AND SIGN OF HOPE FOR CHANGE TO COME ????


Gallup: Obama’s Approval Drops Below 50 Percent Among Poorest Americans; No Longer Enjoys Majority Approval In Any Income Class
....


Perhaps those poll numbers explain the Bloviator-in-chief's extraordinary effort yesterday to quintuple down on stupid. Note to Electorate: "Insanity: doing the same thing over and over again and expecting different results." Albert Einstein

Friday, April 1, 2011

Lawyers Seeking JUSTICE - Nah, just headlines......

Seems that Yale University is now under investigation by the U.S. Department of Education's legal arm “for its failure to eliminate a hostile sexual environment on campus, in violation of Title IX.”

To me this story sounds more like a cabal of overpaid federal bureaucrat lawyers trying to grab headlines and create some resume fluff for themselves before they scurry off like rodents from the sinking S.S. Obamaphate.

BREAKING: DOE's Office for Civil Rights to investigate Yale for "hostile sexual environment"



H/T Drudge

Tuesday, March 1, 2011

And I Didn't Think I'd Have Chris Dodd to Kick Around Anymore...

BOTUS' butt boy and former Connecticut Senator Chris Dudd has a new gig ... as Hollyweird's top shill. I'm guessing there was heavy lobbying out of the West Wing to get this done, after all, Doddo did fall on his electoral sword for the One by stepping out of the race. No doubt the annual compensation for this gig is far better than a senator's take-home.

From the Wall Street Journal's Washington Wire:

Dodd Named Hollywood’s Top Lobbyist

By Brody Mullins and Elizabeth Williamson

Former Sen. Chris Dodd of Connecticut is Hollywood’s new man in Washington.

Mr. Dodd inked a deal this morning to become the new president of the Motion Picture Association of America, according to sources close to the process.

Mr. Dodd, who had been the chairman of the Senate Banking Committee and oversaw the passage of broad new regulations for the financial services industry, retired from the Senate earlier this year when his fifth term expired.

He edged out several other high profile politicians, including former Republican Rep. Tom Davis of Virginia and former Democratic Gov. Bill Richardson of New Mexico.

Read the rest here