Since Obama has taken office the market has dropped roughly 26% of its value (aproximately 2500 points). One of the common things noticed by people is that everytime Obama speaks the market drops. With this being a trend I thought it might be fun to do a poll on how much you think the market will drop tomorrow or if it will actually make gains.
CAPE TOWN, South Africa — If we don’t deal with climate change decisively, “what we’re talking about then is extended world war,” the eminent economist said.
“Somehow we have to explain to people just how worrying that is,” the British economic thinker said.
His audience Saturday, small and elite, had been stranded here by bad weather and were talking climate. They couldn’t do much about the one, but the other was squarely in their hands. And so, Lord Nicholas Stern was telling them, was the potential for mass migrations setting off mass conflict.
But if negotiators falter, if emissions reductions are not made soon and deep, the severe climate shifts and sea-level rises projected by scientists would be “disastrous.”
It would “transform where people can live,” Stern said. “People would move on a massive scale. Hundreds of millions, probably billions of people would have to move if you talk about 4-, 5-, 6-degree increases” — 7 to 10 degrees Fahrenheit.
And that would mean extended global conflict, “because there’s no way the world can handle that kind of population move in the time period in which it would take place.”
Melting ice, rising seas, dwindling lakes and war — the stranded ministers had a lot to consider. But many worried, too, that the current global economic crisis will keep governments from transforming carbon-dependent economies just now.
So to sum it up if we do not bow at the alter of global warming we are looking at the apocalypse as we know it (gasp!)
Of course what would a global warming story be without a bit of hypocrisy:
Stern, author of a major British government report detailing the cost of climate change, was one of a select group of two dozen — environment ministers, climate negotiators and experts from 16 nations — scheduled to fly to Antarctica to learn firsthand how global warming might melt its ice into the sea, raising ocean levels worldwide.
If the world’s nations act responsibly, Stern said, they will achieve “zero-carbon” electricity production and zero-carbon road transport by 2050 — by replacing coal power plants with wind, solar or other energy sources that emit no carbon dioxide, and fossil fuel-burning vehicles with cars running on electric or other “clean” energy.
It seems to me that Mr. Stern should be practicing what he preaches.
USA Today( 23 Feb 2009 page 3a) has a small blurb about how the California Republican Party has voted to reprimand six GOP Lawmakers (three Senators and three Assembly). Theses six broke ranks and choose to vote for a budget which includes tax increases and borrow more money as a way to plug the $42 billion deficit the state is facing.
According to the blurb:
“The measure, which would deny party campaign money to the six, was approved Sunday by delegates at the party’s convention in Sacramento. Supporters, including state party Vice Chairman Jon Fleischman, says it sends a message to politicians that there will be consequences for breaking their no-tax pledge.”
Now if only the National Party would do the same to the three Senators who felt obliged to vote for the porkulous bill.
I have added this new link to my page (hattip - Iamsaved )
The link shows where and how the Stimulus money is being spent. Here is just a taste of what some of our tax dollars will be spent for:
It was just announced on Foxnews that Iran has enough enriched uranium to make a nuclear bomb. This does not mean that Iran has a bomb, but it shows just how close they are to attaining one. No word as of yet of a reaction form the Obama administration.
Not to mention Hillary Clinton is claiming no one really knows if North Korea really ever had a highly enriched uranium program….
Obama is about to give a speech to the US Mayors (the ones who’s hands are out wanting our tax money). Updates to follow.
UPDATE: Obama starts out by comparing his community organizing days to being a mayor. Obama mentions his executive order he signed last night for the office of urban affairs (basically it sounds like an new office to make sure that sities follow what Obama wants not what the city may want).
Update: Obama claims that the spendulous bill will create/save 3 million jobs, gives “progressive” tax breaks and claims that it rewards hard working Americans (ha ha ha).
Update: Obama talks about more mass transit, broadband for everyone, more money for education (how is this going to truly stimulate the economy).
Basically it sounds like Obama is talking more about government intrusion in our lives. I think the comment that marks this the most is Obama stating that America will no longer move forward despite the government; instead they will move forward with a helping hand from government. Talk about scarry.
I just saw this on Foxnews.com. Appearantly the Postmaster General received a huge raise and a bonus last year even though the postal service is faltering.
Postmaster General John Potter’s base salary climbed to $265,000 last year from $186,000 in 2007 and he received a performance bonus of $135,000, all approved by Congress.
And this from a Congress who chided failing companies for paying bonuses to their CEO’s.
The Hill has this story about The House Democratic Caucus spending more than $500,000 of taxpayer money to help pay for their annual retreats:
The House Democratic Caucus spent more than $500,000 in taxpayer money over the past five years for its annual retreats at resorts in Pennsylvania and Virginia.
On Thursday, Democrats will head to the Kingsmill Resort and Spa in historic Williamsburg, Va., for the three-day planning powwow. The resort boasts multiple championship golf courses, a full-service spa and six restaurants.
Individual lawmakers pay for most of the expenses related to retreat lodging through their campaign committees, but the Democratic Caucus subsidizes some of the costs for what aides consider “official business” — to the tune of nearly $100,000 each year, according to a Democratic aide involved in retreat planning.
Democratic leadership sources were reluctant to talk about any aspect of the trip, but they defended it as an important planning session for the entire country.
“This retreat is strategic planning for the country,”said Democratic Caucus spokeswoman Emily Barocas. “The president, vice president and three Cabinet secretaries will be meeting with the caucus to plan the direction we are taking the country in.”
So can I write off on my taxes my next vacation and call it necessary for the strategic planning for my families future? This next part says it all:
The topic is particularly sensitive this year after several Democratic lawmakers slammed American International Group (AIG) executives for spending more than $440,000 at a company retreat in Monarch Beach, Calif., just days after the federal government bailed the company out with $85 billion in taxpayer funds.
Several Democratic lawmakers also excoriated banking and financial companies for flying in corporate jets to Washington to testify before several committees about their need for billions more in bailout money.
And now a list of some of the expenses you and I have had to foot the bill for:
In 2004, for instance, the caucus paid more than $27,000 to Executive Jet Management for a chartered flight for Bill Clinton, who addressed the issues conference. A Democratic aide said costs soared for Clinton’s travel because there was a “horrible blizzard” that caused his plane to become stuck two days longer than expected and the caucus had to spend extra money for de-icing and storing the plane.
In 2005, the caucus cut a $1,100 check to retired Gen. Wesley Clark’s consulting firm for a speaking fee. Former Secretary of State Madeleine Albright’s firm received $864 in 2003 for her retreat address.
Besides Obama, Biden and three other Cabinet secretaries, Democrats this year are hosting Microsoft CEO Steve Ballmer, who will talk about stimulating the economy through technology and innovation.
In the past, the caucus has also paid for food and after-hours entertainment. In 2003, for example, the Caucus spent $11,200 on food and $6,900 on entertainment. Costs for renting conference rooms at the resorts also make up a large chunk of the total. In 2004, the caucus spent at least $15,000 on space rental.
Democrats spend the most money, however, on transportation.
Wait a minute, didn’t members of Congress and the media chastise the big 3 automakers for using private jets to get to D.C.? Well let’s take a look at the Dem’s transportation decisions that you and I paid for:
Since 2005, the caucus has chartered an Amtrak train to ferry members to the Kingsmill resort. It costs roughly $70,000 each year for the Amtrak charter. Democratic aides argue it’s necessary so that members can spend time together and not end up taking separate cars and arriving at staggered times. Traveling by train also helps ensure the safety of House Speaker Nancy Pelosi (D-Calif.), who is second in the line of succession to the presidency and requires constant security detail. In this case, the source said, security helicopters fly above the train.
In 2003 and 2004, the caucus used chartered flights and rented cars and buses to transport members to the Nemacolin resort in Woodlands, Pa. The chartered flight cost more than $10,000 and the buses were $6,500, but the hassles weren’t worth it: One year, a Democratic aide recalls, the buses broke down and closed down an entire highway.
Of course the Republicans had their own retreat. It was funded partly by lobbyists
Democrats and Republicans have criticized each other for the way each party pays for its annual retreat. Republicans huddled at the Homestead Resort in Hot Springs, Va., last week. The Congressional Institute, a nonprofit that pays for activities at least in part through dues from lobbyists, subsidizes the GOP retreat. Republicans also allow members of the institute’s private sector advisory board, many of whom are lobbyists, to travel to the resort each year for a dinner with the members.
Democrats don’t allow lobbyists at the retreat, but Republicans criticize the use of taxpayer dollars for expenses for retreats at resorts, especially during the economic downturn.
I guess the meaning of Obama’s Hope and Change message is for the taxpayer’s to Hope that they have some Change left in their pocket by the time the Democrats’ are done with their fleecing of America.
I saw an article today in USA Today (Lead law throttles youth powersports by William M. Welch print edition 17 Feb 09) about a law passed by Congress this past summer (check this link for background info) that went into effect on the 10th of Feb and the unintended consequences it is having on one industry that was actually thriving even with the state of the economy.
Here is what the story says about the law:
“Passed by Congress after a serious of reports concerning toys made in China with lead, the law bans sale of products aimed at children if they contain more than 600 parts per million of lead…”
According to the article,
”…lead is found in steel and other metal alloys in the frame, motor and multiple parts”
So this means that becasue of the lead in the motorcycle parts on off-road bikes and quads the models designed for small children can no longer be sold to them, nor can the repair parts be sold for those models. What kind of an impact does this have? Well for starters, the off road youth industry is a,
“$14.5 billion a year industry including sales, service, parts, accessories and payroll.”
So far, the off road industry has seen a 20% dip in sales due to having to pull the smaller models off the floor and those were the models that sold the best. The article notes that there is an estimated value of $100 million in inventory that can no longer be sold in the US. Not to mention the fact that now that the smaller models can not be sold the fear is that kids will try riding the adult size models which are heavier and harder for a child to handle and end up getting hurt. Which in this day of lawsuits you could just see a parent, who bought the adult size model for little Johnny, suing the manufacturer cause Johnny broke his leg when the bike fell on him.
I think Zack Bartell (age 12) sums it up best when he says,
“Are you kidding? This is silly. There’s no way I’m going to stick a motorcycle part in my mouth.”
And Pelosi, Reid and Obama want us to trust them to “fix” the economy…….